Supplier Evaluation and Selection
Supplier Evaluation and Selection is the procurement capability of assessing potential vendors on predetermined criteria such as quality, cost, reliability, and delivery to determine the most beneficial partner for the organization, ensuring optimal efficiency, cost-effectiveness, and risk mitigation in sourcing and acquiring goods or services.
Level 1: Emerging
At an emerging level, you are beginning to grasp the basics of evaluating and selecting suppliers, with the ability to correlate the procurement process with vendors' capabilities and compliance.
Level 2: Proficient
At a proficient level you are able to effectively evaluate and select suppliers based on criteria such as cost, quality, and reliability, ensuring alignment with organizational goals and procurement strategies.
Level 3: Advanced
At an advanced level, you are able to analyze complex supplier data, implement innovative evaluation techniques, negotiate optimal terms, and make strategic decisions to enhance procurement effectiveness within the organization.
