Develop a Vendor Evaluation Matrix
Objective:
- Create a systematic matrix for evaluating potential vendors.
- Ensure objective and comprehensive assessment of vendor capabilities and suitability.
- Facilitate informed decision-making in procurement processes.
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Description
Inputs
- [Type of Vendor/Service: e.g., IT hardware, Marketing agency, Raw material supplier, HR software]
- [Key Evaluation Criteria (5-7 bullet points): e.g., Cost, Quality, Delivery time, Support, Reputation, Scalability, Security]
- [Weighting for Each Criterion (e.g., 1-10 scale or percentage): e.g., Cost (25%), Quality (30%)]
- [Minimum Requirements (optional): e.g., ISO certified, 5+ years experience, 24/7 support]
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Results
- A spreadsheet-compatible vendor evaluation matrix.
- Clearly defined scoring methodology for each criterion.
- A system for calculating total weighted scores for each vendor.
- Sections for qualitative comments and final recommendations.
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