A well-designed and implemented Vendor Performance program will capture
performance history across a wide span of supply chain activities. It
will detect performance throughout the entire PO lifecycle and provide
rapid feedback to supply chain stakeholders, to maximize opportunities
to correct supply chain performance failures before they are repeated.Therefore in order to survive in
the competitive market, nowadays firms are obliged to strive for
fulfilment of stakeholders' expectations.
The concept of "value" has gone beyond the preliminary view of exclusive value generation just for shareholders. Therefore organizations must be evaluated by generation of not only economic value but also ecological and social value. In other words organizations should consider value creation for all stakeholders who are involved with the company and not only for shareholders.
Stakeholders' satisfaction in supply chain should be more
noted by managers since value creation through supply chain activities
can be considered as a competitive advantage in the competitive market.
In contrast to the traditional supply chain management, nowadays there
is a fierce competition among supply chains rather than firms. To
increase stakeholders' satisfaction, it is needed to evaluate
supply chain performance to determine how much value can be created.
Thus, using an effective method is essential to evaluate supply chain
value. Although many methods, frameworks and techniques are utilized in
the literature using variety of indices identified by experts and
executives to measure supply chain performance, usually they applied
indices concerning just a specific group of stakeholders such as
customers or shareholders without any technical method to have
stakeholders' satisfaction in mind. In this study a framework was
proposed to link stakeholders' satisfaction and supply chain
performance evaluation by applying review of studies concerning
evaluation of supply chain from a value perspective. To increase supply
chain value this study proposed an algorithm capable of improving value
creation process which can result in satisfaction of all groups of
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