Evaluating Potential Suppliers for Effective Supply



 
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1.00 hour
Online Self Study
PEX205

ID:1000000172

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About the Course

To identify the importance of a particular purchase, it is important to specify the different types of criteria on which suppliers can be evaluated and gather data on existing and new suppliers so you can select the right supplier for your needs.

Course Description

To identify sources of supply that can meet an organization's current and forecasted operational and strategic needs, it is important to evaluate potential suppliers. The criteria on which potential suppliers are evaluated and the depth of the supplier analysis are critical components of the evaluation process. The buying organization could suffer serious loss in terms of total cost and risk of supply if the suppliers are inadequately evaluated. The evaluation process can be contracted or expanded depending on the importance of the purchase to the organization, the availability of expertise within the supply base, and the risk associated with acquiring the purchase in the marketplace.

In this course, you will explain the importance of the supplier evaluation process. You will also identify the supplier evaluation process and the criteria for evaluating suppliers. Finally, you will list the tools and techniques used to evaluate suppliers.

Learning Objectives

After completing this course, you should be able to:

  • Explain the need for the supplier evaluation process.
  • Identify the supplier evaluation process.
  • Identify the criteria for evaluating suppliers.
  • List the tools and techniques used to evaluate suppliers.
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