There
are many factors involves in selection of right suppliers in relevant tenders,
and most of the organization count it as challenging task. But selection of
suppliers can be a smooth process if you have proper supplier pre-qualification
criteria as per policies of organization.
The facts and figures shows that
right supplier selection process is key to success for buyer and supplier
relationship and without pre-qualification event it not possible for any
procurement professional to invite relevant vendor in tenders. But first of all
identification of new vendor from market is very important. During
identification of supplier it is very important to collect opinions of internal
stakeholders with in organisations who can also help in defining supplier
selection criteria. During identification of supplier, you should always pay
attention on following points.
- Service quality
- Delivery commitments
- Reliable delivery methods
- Resource Savings
- Financial stability & credit strength
- Proven performance and experience
Low price is not always a best
achievement. If you want reliability and quality from your suppliers, you'll
have to decide how much you're willing to pay for your supplies and the balance
you want to strike between cost, reliability, quality and service. Once you get
clear idea of need requirements then you can build a shortlisted vendors
directory. After this step you can call potential suppliers for their
pre-qualification and once quality suppliers are pre-qualified with your organization,
you can move them onto negotiating terms and conditions to finalize contract.