Developing a Supplier Evaluation Tool
The purpose of this assignment is to gain a greater understanding on the importance of a choosing a supplier that is a good git for your company. By now, you have reviewed different types of evaluation tools (see videos under reading materials) and have hopefully been thinking about how you would choose and evaluate a supplier.
Choose five (5) criteria that you think are most important when choosing a supplier.
Think about how you would evaluate that supplier.
Are these direct questions you would ask?
Ask their references?
Review documents?
Now create a document that would allow you to capture this data and score the supplier
Use Word, Excel, or any other software that will help you manipulate you the document
On a separate document, include a paragraph that includes a description of your tool and why you chose those particular criteria.
You will use this assignment to create your initial post in your discussion board.
Developing a Supplier Evaluation Tool
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Developing a Supplier Evaluation Tool
The supplier selection process requires considerable attention since it is application-oriented, sophisticated, and involves multiple decision-making. That’s why a company should implement proper criteria for evaluating suppliers who are a good fit for the firm. The paper focuses on five criteria that would help me choose the most appropriate suppliers for my company based on their rating.
Reliability and Experience
I would ask the supplier questions since selecting a distributor is like hiring the best candidate for a vacant position. In addition, I would ask for at least three referees or recommendations from previous companies that had worked with the supplier. On a scale of 1 (worst experience) to 10 (best experience), I will require the firms that had worked with the supplier to rate the distributor’s experience. Finally, I would find the average score to get the supplier’s rating.
Product Quality
Junyi Chai and Eric Ngai assert that product quality is a significant factor to consider when selecting a supplier since it directly affects the quality of products provided (Chai & Ngai, 2020). In that light, I would ask the supplier the source of products. I will compare the quality and cost of the products. The supplier should provide samples of the commodities, and I will do a survey from consumers to determine how best they meet their needs.
Flexibility
I would examine how the supplier can handle frequent small orders. For instance, will it be possible for the distributor to supply products with a short deadline? I will give the supplier who can distribute ordered products within a short period the highest rating. Besides, flexible suppliers are crucial since they help a firm respond to changing consumers’ demands faster.
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