Better Buying in the US to launch the Partnership Index on October 1
The Index, which will be open and collect supplier ratings throughout October, is designed to bridge the gap between in-depth supplier data collected for the annual Better Buying surveys in April and to serve as a benchmark. Quick status update, allowing tracking throughout the year. and analysis of emerging issues and trends and potential problem areas.
Completely anonymous, this short 5-minute survey asks suppliers 15 powerful questions about key buyer practices; operational efficiency and management of key deadlines; forecast visibility and predictability of future orders; whether financial practices are fair; buyer’s efforts to work with the supplier to improve sustainability; communication practices; and the buyer’s status as a customer of choice, Better Buying said in a press release.
On October 1, the Better Buying Institute will launch its Partnership Index, a new tool for buyers and retailers to quickly check the temperature of their supplier relationships across multiple industries, regions and levels. It will bridge the gap between Better Buying annual rating cycles, for year-round monitoring of emerging issues and trends.
Brands and retailers who are also subscribed to Better Buying receive a confidential report, providing their overall partnership score, peer benchmarking, and supplier recommendations on how to improve. Year-to-year analysis allows companies to demonstrate their leadership to external stakeholders, as well as the progress they are making.
In addition to providing a quick overview of level 1 buyers’ supply chains, the index can also be used across multiple industries, product categories and geographies, and at different levels including material factories, components , packaging suppliers and chemical suppliers.
The survey link will be shared with vendors on October 1.
To support its measurement of purchasing practices, The Industry We Want, a major initiative coordinated by the FairWear Foundation and the Ethical Trading Initiative, partners with the Better Buying Institute to help increase the Partnership Index, and organizes two webinars for brands and suppliers interested in learning more, Tuesday October 12, 2021 (UK / Europe / Asia region) and Thursday October 14, 2021 (US / Europe / UK).
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