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Vendor Evaluation Tools
All good Buyers know the value, benefits or importance of evaluating your Vendors. They also understand there are not enough hours in the day to complete this task. One of our objectives is to provide tools to make it easier for Buyers to evaluate their suppliers.
Some of the benefits your company will gain from completing regular vendor performance reviews are:
- Better communication
- Improvements to product deliveries
- Better service
- Process improvements
- Inventory reduction
- Cost savings
- Quality improvements … just to name a few
Getting into each one of the above topics on benefits is another post but identifying short comings with vendors to help get them back on track is good business and helps everyone. Many times Vendors may not be aware they are dropping the ball and by bringing certain short comings to their attention and documenting them is simply good vendor management. This in turn will reduce the amount of time wasted or inefficiencies within your organization. How? Well, if Suppliers are filling orders and providing correct paperwork in compliance with your specifications, less time is spent on returning incorrect shipments or fixing pricing errors. These are two everyday examples many organizations face. In any event, creating a paper trail demonstrates due diligence and is an important impression to make with your vendor whether you continue to have a future relationship with them or not.
RFQPro has a comprehensive Vendor Evaluation Template Form you can edit and use to make this task a little easier to ensure you are able to properly evaluate your Suppliers or Vendors. It is a 14 page document which provides questions and weighted measures for everything from item delivery to product quality. This template and our Sub-Contractor Performance template are included in our Premium Pack.
Topics: Reports | 1 Comment »
November 13th, 2011 at 9:47 pm
[...] that we have been charged with behaving your vendor performance examination what questions do we ask your contractors and sub-contractors? How mostly should we [...]