Vendor Rating versus Vendor Evaluation
In the summary of Vendor Rating I see that:
- Is a process carried out after the product is delivered or the service is rendered.
- Can indicate a continuous process of measurement, usually comprehensive.
- Can be used before or after order fulfillment.
- Is usually used with reference to a scale.
- Is an approach of comparing various or multiple vendors.
Beyond this, what further differences exist between vendor rating and vendor evaluation as applied in procurement and supply chain management?