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Supplier evaluation – Wikipedia From the free encyclopedia Jump to navigation search and supplier appraisal are terms used in business refer process of evaluating approving potential suppliers by quantitative assessment The aim is ensure a portfolio best-in-class available for use thus it can be an effective tool select awarding stage auction also applied current order measure monitor their performance purposes ensuring contract compliance reducing costs mitigating risk driving continuous improvement Contents Process Benefits drawbacks Tools Financial Services References edit take-on continual within purchasing departments forms part pre-qualification step although many organizations includes participation input other stakeholders Most experts or firms experienced collecting information prefer doing so using five-step processes determining which approve Their often take form either questionnaire interview sometimes even site visit appraisals various aspects supplier’s including capacity financials quality assurance organizational structure Based on obtained via scored approved not as one from whom procure materials services In there list ASL qualified then added If rejected generally made assessing company’s procurement team Once may reevaluated periodic annual basis ongoing defined management There benefits associated with such mitigation against poor failures typically include sourcing that provide high standards product service levels whilst offering sufficient stability help customers identify remove hidden cost drivers supply chain motivate improve several challenges according To mitigate this large corporations has dedicated department Procurement Department performing cost-benefit analysis evaluate if company should engage vendor perform task in-house Such considerable amount resources management’s commitment support essential Some mitigated appropriate tools For simple projects spreadsheet But evaluations become more complex frequent data integrity issues significant Web Electronic RFP Tendering systems initial selection products functionality combining both benchmarking Wider established teaching Carter Cs model internationally recognised approach This looks at evaluated before contracting Capacity does organization have deliver Competency its people competent Consistency Control control offer flexibility Commitment Quality effectively manage Cash strong enough financial base Cost offered competitive price Culture buyer cultures compatible Clean ethical funded legitimately child labor etc Communication efficiency organisation technology integration collaboration co-ordination See software UK sector Qualification System FSQS collaborative due diligence system currently major banks building societies insurance companies Aldermore Bank Allied Irish Arbuthnot Latham England Ireland BNP Paribas Clydesdale Virgin Money Hastings Group Lloyds Banking LV Masthaven Metro Nationwide Building Society NFU Mutual PCF Royal Sun Alliance Rugby Hinckley Santander Shawbrook Tokio Marine Kiln TSB Weatherbys operated Oxford-based Hellios Information Ltd Roylance D Purchasing Performance Measuring Marketing Selling Decarolis Francesco Pacini Riccardo Spagnolo Giancarlo Past Outcomes National Bureau Economic Research Sherry R Gordon excellence guide meaningful metrics successful results J Ross Publishing p ISBN Bauily P Principles Management Robert M Monczka B Handfield Larry Giunipero Supply Chain Cengage Learning CS maint multiple names authors link An Investigation relationship strategies PDF Singapore Institute Manufacturing Technology Retrieved Juhnyoung Lee Data engineering e-commerce Springer Using techniques Strategy squared Varley Retail Product Buying Merchandising FSGS buyers accessed December https en wikipedia org w index php title amp oldid Categories Business termsSupply managementHidden categories Navigation menu Personal Not logged inTalkContributionsCreate accountLog Namespaces ArticleTalk Variants Views ReadEditView history More Search Main pageContentsCurrent eventsRandom articleAbout WikipediaContact usDonate Contribute HelpLearn editCommunity portalRecent changesUpload file What links hereRelated fileSpecial pagesPermanent linkPage informationCite pageWikidata item Print export Download PDFPrintable version Languages Deutsch Edit page was last edited February UTC Text under Creative Commons Attribution-ShareAlike License additional apply By you agree Terms Use Privacy Policy registered trademark Wikimedia Foundation Inc non-profit policy About Disclaimers Contact Mobile view Developers Statistics Cookie statement