Vendor Rating for New, Potential Vendor

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Vendor Rating > Best Practices > Vendor Rating for New, Potential Vendor

Vendor Rating for New, Potential Vendor
Luigi Visiello
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
 

 
VRM
Jay Deragon
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.
 

 
Supplier Evaluation, Rating a Potential Vendor: ISO 9001
Madan Gopal Agarwal, Business Consultant, India, Member
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.
 

   

 
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VISWANATHAN
 

 
Vendor Rating
Vinod, Chartered Accountant, India, Member
 

 
Vendor Rating - New
Colin Downey
 

 
Important about vendor rating
Ankit Agrawal, Consultant, India, Member
 

 
Supplier evaluation
Susana Amezcua Rodriguez, Management Consultant, Mexico, Member
 

 
Vendor Rating
Arne Antos
 

 
Objective Vendor Rating in Developing World
Christopher Odida, Kenya, Member
 

 
Vendor Rating in Developing Countries
Bernadette, Sales, Kenya, Member
 

     

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