Selecting Suppliers for Effective Supply



 
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1.00 hour
Online Self Study
PEX206

ID:1000000111

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About the Course

Selecting the right supplier could mean the difference between an organization being able to execute its strategic goals and facing dissatisfied customers and stakeholders because of bottlenecks in its supply chain. Understanding the supplier selection methods will help you in selecting the right suppliers for your company.

Course Description

Supplier selection is a crucial stage of the effective supply process. In this stage, an organization decides how much volume it should allocate to a supplier. Selecting the wrong supplier has major implications, such as the supplier’s inability to meet short-term needs on price, delivery, or cost. In the long term, the wrong supplier would be unable to meet the organization’s strategic goals for quality or collaboration. Ultimately, a poor buyer- supplier fit can result in bottlenecks through the supply chain as well as dissatisfied customers.

As a supply chain professional, it is important to select the right supplier. Most importantly, it is important to rate suppliers on their ability to enable your organization to attain its goals. By understanding how to formally rate them—with a few quick questions or a complex rating scheme—you can drive the scope of the selection process and suggest whether a team, rather than an individual, would be better suited to handle the selection process.

In this course, you will examine the different supplier selection methods available and determine the rationale for applying each method in different scenarios. You will also review how cross-functional teams enable the supplier selection process.

Learning Objectives

After completing this course, you should be able to:

  • Identify the priority of the decision criteria and the supplier selection methods.
  • Determine the appropriate supplier selection method for a given scenario.
  • Describe how cross-functional sourcing teams support supplier selection.
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