Poor supplier data results in severe business consequences


In fact, 60% of executives reporting outdated supplier information said that it took them four days to update that information, showing that even seemingly small hiccups can cause severe negative consequences, such as missed deadlines (51%), unhappy clients (42%) or even financial loss (40%), Tealbook said.

The lack of up-to-date supplier information is by no means isolated to structured procurement organizations. In fact, the negative impact was documented on both the procurement organization and the suppliers: consequences include wasted time (63%), delays in projects (47%), and worse, terminated supplier relationships, the company said. 





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Esther Shein

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