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Competitive pricing, quality & delivery timelines.
The basic criteria for a supplier is : Quality and cost
Supplier Selection, if I understood correctly, it is pre-qualification of suppliers to bid so that we get bids from competent suppliers. For pre-qualification of suppliers, the following criteria may be followed in brief:
1. Regulatory compliance i.e. The entity must be registered as a “supplier” or “Manufacturer” with competent department of the state or country, having valid trade license and other regulatory compliance document like VAT Registration certificate, Income tax clearance certificate etc.
2. Physical facilities: Must have manufacturing facility, storage facility and an office address.
3. Technical Competence: Must have technical personnel and skill or have contractual agreement with competent technical personnel or other firms for manufacturing the product
4. Financial Solvency: The Firm must be on sound financial standing as evidenced from the Bank solvency certificate issued by their Banker and audited financial statements (or at least Bank Statement for the last three years).
5. Experience: The Firm must have previous experience in similar jobs, which is to be substantiated by experience certificate from other organizations
6. Management Quality: Please verify rigorously who are behind the entity and their background.
The above noted criteria are applicable in case of manufacturing or civil works or highly big value procurement projects. For only trading business, it is not necessary to have manufacturing /storage facility. Technical capacity and Management quality may be relaxed to some extent.
Supplier Selection is critical issue and shall be done on rigorous analysis. Final outcome of the bidding process and actual delivery of goods /services in right time will solely depend on reliable supplier selection.
1. Quality of product2. Comparative price3. Maintaining lead time4. After sales service5. Capacity considering uncertain demand6. Payment method7. Delivery mode
that he would fulfill my critirea whether its quality or cost - aslo a win win strategy will be followed3-Safety Guaranteed
The process of evaluating a manufacturer/vendor is complex and is based on multiple criteria. However, the following four are the most important.
Product And Process Technologies
Quality
Capacity
Service Reliability
There are many aspects which require collection of information and closer examination while determining a suppliers/manufacturers qualification and eligibility to ensure successful completion of contract. These interalia may include:
Quality of material supplied and quality control regime
Timely deliveries
Litigation history
Complaint handling
Payment by the supplier to vendors of Raw Material
Involvement in corrupt practices or otherwise
