Supplier and Vendor Selection Process Essay Example | Topics and Well Written Essays - 500 words

Supplier and Vendor Selection Process - Essay Example Their past records supplying for other companies should be viewed. This is to enable the company determine the risks at hand. If a supplier has a record of giving excuses and not delivering the supplies on time, they should be discarded as quickly as possible. This is also to prevent falling behind schedule due to problems caused by a party external to the company. The second element in choosing a supplier is their experience especially in serving similar contracts. In essence, the focus should be selecting the very best of suppliers to meet the needs at hand. An experienced supplier would have many benefits to the company. First of all, the supplierwould provide the very best quality materials. Secondly, their experience would most likely make them efficient and thus the chances of a discount are high. The third aspect to consider in choosing the supplier is the costs demanded by the supplier. Every company focuses on the reduction of costs and thus such a contract should be aimed at the same. The supplier with the least costs but with the best quality should be chosen upon. The fourth element to base the choice upon is the amount of time available. Given that time is more or less limited for all activities, the company that can deliver the supplies required in the shortest time possible. This should consider the quality of supplies since the hurry could be an opportunity to deliver poor quality items. The last element is the future plans of the company. If the company aims at a continued contractwith the supplier, a strict set of requirements should be used since all the company should focus on is obtaining the best supplier both in terms of quality and reliability. In conclusion, it is you, as the chief executive of this company, should endeavor at ensuring that the supplier given the deal is the best as stipulated by the conditions of the contract at hand and the goals of the company.