SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-bound, which are criteria for setting effective and realistic goals1. From a SMART target perspective, what is missing in this scenario is the time-frame by which the target must be met. A time-bound target specifies the deadline or the duration for achieving the target, which helps to create a sense of urgency, motivation, and accountability2. Without a time-frame, the target is vague and indefinite, and it is difficult to monitor and evaluate the progress and the results. For example, a time-bound target could be to improve the average transaction time per order by 10% within the next six months.
The other options are not correct explanations of what is missing. The target is attainable, as it is realistic and feasible, and it does not depend on factors that are beyond the control of the organization, such as weather conditions. The target is specific, as it provides a clear and precise description of what needs to be achieved, and it does not need to provide a target for each supplier, as that would make the target too complex and cumbersome. The target is relevant, as it is aligned with the goal of improving supplier relations, and it does not assume that supplier relations is only dependent on quality of deliveries, as transaction time is also an important factor that affects the efficiency, satisfaction, and trust of the suppliers.
References:1: Introduction to Business Data Analytics: An Organizational View, IIBA, 2019, p. 122: Introduction to Business Data Analytics: A Practitioner View, IIBA, 2019, p. 12. : Introduction to Business Data Analytics: An Organizational View, IIBA, 2019, p. 12. : Introduction to Business Data Analytics: A Practitioner View, IIBA, 2019, p. 12.
