Vendor Rating for New, Potential Vendor

Vendor Rating
Knowledge Center

Best Practices

Sign up

Luigi Visiello

Vendor Rating for New, Potential Vendor

I'd like to understand how should one can create a first vendor rating procedure for new suppliers (not yet present into the supplier list). It should be useful to use not only financial KPI (debtness ratio, turnover, cash to cash cycle, etc..), but also operational ones. Could someone give me an idea?
Thanks all for sharing comments

  Jay Deragon
 

VRM

Doc Searls is running a project at Harvard called VRM (Vendor Relationship Management) which addresses all of the above and a lot more. You can view is ongoing efforts here blogs.law.harvard.edu/vrm/ I suggest we all support his vision and make it a reality. VRM will transform how markets behave and disrupt old business models.

  Madan Gopal Agarwal
Business Consultant, India
 

Supplier Evaluation, Rating a Potential Vendor: ISO 9001

A generic system for any Sector is ISO 9001 (Specific for Auto is ISO / TS 16949).
- Identify Critical Parameters
- Create Questionnaire on Business Strategy / Plan / Growth Perspective, Financial Capability and Soundness, Technical Competence, Managerial strength etc. of the Supplier
- Define weightings for each & Minimum Qualifying marks
- Discuss with Supplier
- Rate the Supplier
- Calculate the overall rating and compare with minimum marks.
In case of gap, discuss with Supplier, work out an improvement plan along with Time-frame and responsibilities.
Re-audit at agreed time and continue the process till result is realised. This can be one of the ways.

  Ismail Kashkash
 

Vendor Rating Based on Unique Criteria and KPIs

Additional to standard vendor evaluation and selec (...)

  VISWANATHAN
 

Vendor rating

Vendor rating has come a long way in Indian indust (...)

  Vinod
Chartered Accountant, India
 

Vendor Rating

Among other things, vendor rating includes the tim (...)

  Colin Downey
 

Vendor Rating - New

I have use parameters such as Suppliers Distributi (...)

  Ankit Agrawal
Consultant, India
 

Important about vendor rating

Now a days vendors are not only the business parti (...)

  Susana Amezcua Rodriguez
Management Consultant, Mexico
 

Supplier evaluation

Excellent information for me as a quality consulta (...)

  Arne Antos
 

Vendor Rating

I think it boils down to did you get value for wha (...)

  Christopher Odida
Kenya
 

Objective Vendor Rating in Developing World

Yes this can be achieved but a lot professionalism (...)

  Bernadette
 

Vendor Rating in Developing Countries

Vendor rating is not common in the most developing (...)

Start a new forum topic

 

More on Vendor Rating:
Summary
Special Interest Group

Do you have a keen interest in Vendor Rating? Become our SIG Leader

Vendor Rating
Knowledge Center



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2021 12manage - The Executive Fast Track. V15.8 - Last updated: 23-10-2021. All names of their owners.