SOUTHFIELD – BBK today introduced S.M.A.R.T. Ratings™ (Subscriber Measurement and Risk Tool)—which for the first time gives suppliers direct access to their BBK Ratings reports. North American, European and Asian manufacturing suppliers can now use the same tool to manage their businesses that their OEM, Tier One and Two customers use for assessments.
BBK is a widely respected third party that compiles its business ratings by gathering and evaluating suppliers’ critical financial data at the request of BBK’s customers: OEMs, Tier One and Tier Two suppliers.
“BBK Ratings have traditionally helped automotive OEMs and top suppliers better manage their supply chains by letting them proactively evaluate and work with their suppliers to identify and overcome problem areas before they become more difficult or expensive to solve,” said Michael Wagner, BBK director of proactive services.
BBK Ratings provide a current, objective, comprehensive, confidential evaluation of a supplier’s financial status and the factors influencing it. “Before BBK S.M.A.R.T. Ratings, smaller suppliers—the companies generally being rated—didn’t have access to their own ratings because they were purchased by their customers,” Wagner explained. “BBK S.M.A.R.T. Ratings help these suppliers manage their own businesses in a highly effective way by providing a synthesis of information and analysis that was previously unavailable to them.”
The growing demand for BBK Ratings by suppliers prompted BBK to create this new tool. It lets them proactively identify and act on issues affecting their businesses, and immediately send their ratings to business partners. Until now, suppliers had to resubmit their financials each time another business partner requested their financial data.
“Many suppliers have asked us for this tool because of the critical insights and expert analysis it provides, and because it allows them to identify and proactively address potential concerns early-on,” Wagner said. “It’s an incredibly powerful tool for suppliers and a widely accepted standard in the industry, so it really is a win-win.”