An auto component major identified processes that positively impacted vendor experience and alerted business units that needed to further strengthen relationships with their Vendors through our Vendor Experience Index (EX) approach.
Approach
LISTEN
What is the Challenge?
- A leading auto component major wanted to streamline and strengthen supply chain by ensuring optimal vendor experience. The study was geared to assess the health of the relationship and ascertain the level of expectations among the identified vendors. The company desired that their key unhappy vendors’ experience moved positively (from breakaway cohort to core cohort) with an overall improvement in scores.
PLAN
Addressing the Challenge
- Feedback Insights gathered inputs from 582 vendors across geographies (both domestic and international) and business units. Both web surveys and tele-interviews were conducted with a mix of qualitative and quantitative questions over a period of three working weeks. The areas assessed were experience, expectations, company image perceptions, vendor journey, competitive perceptions, and industry benchmarking.
ACCELERATE
Actionable Insights
- Identified cohorts of ‘Core’, ‘Moderate’, and ‘Breakaway’ vendors.
- Identified BUs with high representation of ‘Breakaway’ vendors and recommended actions to strengthen their vendor experience.
- Validated processes/areas of positive experience, and built sustainable initiatives around them
- Streamlined and strengthened processes and functions to improve the experience in identified pain points of planning and scheduling.
- The ‘go to’ vendor approach was re-calibrated in light of the client’s reliance on the vendor.