US apparel and accessories wholesaler, SanMar Corporation, has become the first Better Buying™ subscriber to embrace complete transparency and accountability by making its Purchasing Practices Index scores publicly available.
SanMar's suppliers provide anonymous feedback, which is gathered using Better Buying's proprietary technology, examined for patterns, and translated into meaningful data-driven insights. This 360-degree feedback fosters a culture of continuous improvement, aids in the development of a more robust supply chain, and strengthens supplier relationships.
SanMar first subscribed to Better Buying™ in 2019 and has already participated in two ratings cycles in a row. The Better Buying™ Scorecard for 2021 shows the company's overall score in seven important purchasing practise categories. The findings illustrate how the company's supplier ratings have improved, maintained the same, or decreased over time, as well as how those ratings compare to industry norms.
SanMar has also made their 2021 Company Report public, which includes a detailed breakdown of how suppliers scored the company on various purchasing methods, as well as improvement targets. Suppliers' anonymous, open-ended comments are also included in the report, with examples of best practices and suggestions for how the organization could improve in each of the seven core purchasing areas.
Pat Noonan, SanMar's Chief Product Officer, said that they have agreed to share their Better Buying™ 2021 Scorecard and Company Report because they believe transparency and leadership are vital to being a successful partner to their global partners. They believe in long-term, mutually beneficial collaborations.
SanMar and Better Buying™ also cooperated on a short film that highlights the benefits of working with Better Buying™ and enhancing supplier relationships. Interviews with other of SanMar's suppliers are also included in the video.
Dr. Marsha Dickson, President and Co-Founder of Better Buying™, said that they're ecstatic that SanMar has made this decision. As worldwide concern about purchasing procedures grows, they've seen a lot of their subscriber brands incorporate Better Buying™ into their sustainability initiatives and put purchasing practices at the center of their company operations.
Noonan added that they particularly value the wholly anonymous aspect of Better Buying™ because it ensures that vendors are free to be completely honest in their reviews of them. They believe that by encouraging other subscribers to join the platform, they can assist drive substantial change in the way apparel firms deal with their vendors, pushing the needle for the whole industry.
A report that is issued every week covers price statistics and objective analysis of the market trends on various textile value chains
A crisp report that is issued every month covers analysis of the price and market trends on various textile value chains
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One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
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