Countdown to October 1st: launch of the Better Buying Partnership Index
New snapshot assessment will bridge the gap between Better Buying annual ratings cycles, for year-round monitoring of emerging issues and trends
On October 1st, the Better Buying Institute will launch its Partnership Index, a versatile new tool enabling buyers and retailers to take a rapid temperature check of their supplier relationships across multiple industries, regions and tiers.
The Index, which will be open and collecting supplier ratings throughout October, is designed to bridge the gap between the in-depth supplier data collected for Better Buying’s annual surveys in April, and to act as a quick status update, enabling year-round monitoring and analysis of emerging issues and trends and potential problem areas.
Completely anonymous, this short 5-minute survey asks suppliers 15 impactful questions on key buyer practices; operational efficiency and the management of key deadlines; forecasting visibility and the predictability of future orders; whether financial practices are fair; the buyer’s efforts to work with the supplier towards improved sustainability; communications practices; and the buyer’s status as a customer of choice.
Brands and retailers who are also Better Buying subscribers receive a confidential report, providing their overall partnership score, peer benchmarking, and recommendations from suppliers on how to improve. Year-on-year analysis enables companies to demonstrate leadership to external stakeholders, as well as the progress they are making.
As well as providing a rapid insight into Tier-1 of buyers’ supply chains, the Index can also be used across multiple industries, product categories and geographic regions, and at different tiers, including material mills, components, packaging providers and chemical suppliers.
We’ll be sharing the link to the survey with suppliers on October 1st. Watch this space!
To find out about how to subscribe to Better Buying, and receive your individual Better Buying Partnership Index confidential report, please email Leonie Barrie-Abraham, Vice President of Business Development.
SIGN UP FOR ONE OF 2 WEBINARS GUIDING YOU THROUGH THE BETTER BUYING PARTNERSHIP INDEX
To support its metric on purchasing practices, The Industry We Want, a major initiative being coordinated by FairWear Foundation and Ethical Trading Initiative, is partnering with Better Buying Institute to help scale up the Partnership Index, and is hosting two webinars for brands and suppliers interested in learning more, on Tuesday October 12th 2021 (UK/Europe/Asia region) and Thursday October 14th 2021 (US/Europe/UK).