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Vendor Rating

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Description of Vendor Rating. Explanation.


  

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Definition Vendor Rating. Description.

 

Vendor Rating is a system used by buying organizations or industry analysts to record, analyze, rank and report the performance of a supplier in terms of a range of predefined criteria, which may include such things as:

  • Quality of the product or service

  • Delivery performance

  • Financial continuity of the firm

If vendor rating is carried out before the placement of an order, it is also known as Supplier Evaluation. When undertaken after order fulfillment, it is also referred to as Supplier Rating.


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Recent User Comments
Sankar - India Vendor Assessment and Vendor Evaluation "What is the difference between vendor rating, vendor assessment and vendor evaluation? Or are they all the same?"    3
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Compare with: Kraljic Model  |  Vendor Managed Inventory  |  IC Rating  |  Credit Rating  |  Behaviorally Anchored Rating  |  Corporate Governance Rating
 

Return to Management Hub: Knowledge & Intangibles  |  Supply Chain & Quality

 

More on Management  |  Return to Management Dictionary  | 

 

End of description Vendor Rating. An explanation.

 

 
Copyright 2009 12manage - The Executive Fast Track. V10.4 - Last updated: 8-11-2009. All names tm by their owners.
  ●  (Netherlands) Vendor Assessment and vendor evaluation "I think they're all the same, but the informating on this page is (unfortunatly) quite limited. I think the general idea is to have a model to help determine what the best supplier is for your business. There are different systems for this, though i can't find at this moment..."
  ● Ram (India) Vendor Rating "Vendor assessment and vendor evaluation are usually done for the sake of selection of supplier wherein vendor rating is done after the supplies to measure his potential in keeping up supply schedules, quality, etc."
  ● R.S.Mathur (India) Vendor Rating "I agree with Ram. Vendor rating is a perpetual process of objectively evaluating the suitability of the vendors based on their actual performance in terms of critical measures like price, quality and delivery for each transaction. Rating allows vendors to be ranked."