Examples of vendor evaluation and selection

Summary of Evaluate

The second Process Step, Evaluate, begins by understanding the procurement laws and guidelines in your country. In this Process Step, you have learnt how to create the parameters for vendor selection using SWOT analysis and setting external benchmarks. Once you have this information you are ready to develop an investment case model for outsourcing. Finally, you can create a vendor assessment matrix to assist with reviewing how the suppliers match up to the guidelines and requirements that you need to meet. With a vendor selected, the third Process Step, Contract, will focus on how to negotiate and contract with a supplier.