The primary benefit of implementing a supplier rating system for an organization is to

Implementing a supplier rating system provides multiple benefits:

Reduction in Supplier's Process Variability:

Focuses on improving consistency but is not the primary benefit.

Identify Competencies and Weaknesses:

Allows the organization to assess and benchmark suppliers' performance in different areas, identifying strengths and areas for improvement.

Helps in making informed decisions about supplier selection and development.

Measure Timeliness and Delivery:

Important aspect of supplier performance but not the primary benefit.

Improvement in Supplier Audit:

Enhanced audits through better data but secondary to understanding competencies and weaknesses.

Identifying competencies and weaknesses enables better supplier management and development, making it the primary benefit.

References: Supply chain management literature and supplier evaluation methodologies.