 In practical terms, one of the key enablers is the creation of ‘cross-PD’ (Product Division) Bill Of Materials commodity teams. By providing a single point of contact with us, they also streamline our interactions with you – replacing multiple buyers and negotiators with a lead buyer empowered to act on behalf of the whole of Philips.
In addition, we are standardizing and aligning systems and processes on a Philips-wide basis, using world-class solutions to enhance effectiveness and efficiency. These are fundamental to our efforts to deliver on our commitments to our customers and stakeholders – faster, better and cheaper.
Performance monitoring
As we work towards embedding sustainable growth in our company, we are constantly seeking to improve our performance and that of our suppliers through accountability, stretch targets and multi-faceted performance evaluations.
This monitoring process includes our Global Supplier Rating System, which is based on five criteria: innovation, responsiveness / support, cost, delivery and quality. This allows our stakeholders and suppliers to monitor the performance of our supply base online via the Internet.
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