We conduct supplier engagement feedback research driven around the specific needs of our clients, in terms of scope, process and deliverables.
Finger on the Pulse Research (FOTP) is a B2B research agency that specialise in gathering feedback from key stakeholder groups, in particular, Customers, Suppliers and Employees, by developing and conducting bespoke market research surveys.
These three stakeholder groups are fundamental to the success of any business, yet how often do companies obtain feedback from them, to understand their perceptions of your business, in particular what you do well and what you could improve.
Whether during “normal” times or times of crisis, timely, objective and actionable insights generated through research projects enable businesses to maintain a competitive edge and keep close to the needs of their key stakeholders.
As a key Stakeholder Group, your Suppliers are crucial in enabling you to develop the products/services to better meet your customers’ requirements. Suppliers can range anywhere from Transactional to Strategic, from Exclusive to Shared and more and more frequently are being considered pivotal to enable a company to deliver its business plans. Given the growing importance of suppliers, it is becoming increasingly relevant to understand their views and gather their feedback. In an increasingly competitive environment, to have strong, positive, collaborative relationships with your key suppliers is becoming a strategic imperative and key competitive advantage. Suppliers often have choices: who they work with, who they invest with, who they chose to develop strategic relationships with. The most successful companies often have the most successful supplier relationships with strong supplier engagement. But how do you know how successful your supplier relationships are, without some form of measurement.
Conscious of the maxim that ‘you shouldn’t mark your own homework’, engaging FOTP Research, a specialist B2B research company, as an independent third party to work with you, is the best way forward.
We will work with you to:
- Understand your requirements
- Develop the survey
- Conduct the supplier satisfaction research
- Analyse the data and
- Present the insights
Step 1: Scoping the target respondents and understanding your business
We hold initial meetings with our clients to achieve the following:
- Clarify research requirements and potential areas to measure
- Understand current processes and business characteristics
- Select appropriate suppliers to gain feedback from
- Recommend and agree an appropriate sample size
- Provide a full project schedule to include timelines and deliverables
Step 2: Qualifying the core components of successful relationships with your suppliers
- The key drivers of supplier relationship performance are identified by conducting a number of in-depth telephone interviews with a sample of your suppliers
- The output of these interviews are clearly defined Performance Areas and the individual Performance Attributes that determine your supplier relationships and degree of supplier engagement
- Alternatively, we can work directly with the client and based on our shared knowledge, can determine the list of Performance Areas and Attributes to be measured
- An appropriate research solution is suggested and agreed upon, which could include online surveys, focus groups, in-depth interviews and telephone interviews
Step 3: Measuring the pulse of your supplier satisfaction
- An online survey with a combination of ratings and “open text” boxes is used to gain supplier feedback on how they rate your company on the agreed Performance Areas and Attributes
- The Performance Areas and Attributes measured are those we defined from the earlier qualifying interviews and/or client discussions
Step 4: Reporting via scorecard and identifying supplier relationship strengths and weaknesses
Output of results include:
- A supplier relationship health Scorecard
- A measure of performance for each Performance Area and Attribute
- Verbatim comments providing further insight into the ratings provided
- Identified supplier relationship strengths and areas for improvement
- Data analysis and recommendations to help you drive stronger supplier relationships
Click Here: Supplier Engagement
Leave a Reply