What are the key vendor qualification criteria for your industry or sector?

vendor selection criteria: -Quality product or service, meeting any technical specifications. -Value with reasonable cost and terms. -Transportation costs. -Discounts for volume and early payment. -On-time delivery. -Financial strength. -Excellent customer references. -Customer service

* Key Vendor Qualification Criteria - Carter's 10Cs: 1) Competency - How competent is the supplier? 2) Capacity - Does the supplier have enough capacity to meet our requirements? 3) Commitment - Is the supplier committed to providing exceptional quality? 4) Control - How much control does the supplier have on supply chain? 5) Cash - Where is the supplier standing in terms of financial performance? 6) Cost - What is the cost of their product or service ? 7) Consistency - Is the supplier committed to providing consistent high quality service? 8) Culture - What is the supplier’s business culture? 9) Clean - Do they have a sustainability policy? 10) Communication - What are the supplier’s proposed communication approaches?

Key vendor qualification criteria in my industry include financial stability and good reputation, ensuring they meet industry standards and regulations, and assessing their technical expertise and innovation. It's important they have enough capacity and flexibility to handle our needs. We look for competitive pricing and great overall value. Reliable logistics and solid risk management are a must. Effective communication and strong relationship management matter a lot. We also value their commitment to sustainability and ethical practices. Compatibility with our systems and good digital capabilities are essential. Finally, we always check references and past performance to make sure they’re reliable.

The criteria do not depend on the industry or sector (except for laws and regulations), but on the importance of the goods or services to be procured. If these are of strategic importance, the criteria are significantly different from those for non-critical items. The degree of impact on costs and supply risk determines the criteria you set for your suppliers.

In my industry, Automotive, ensuring that suppliers meet quality industry standards (such as IATF certifications) and regulatory requirements is crucial. This includes several certifications, adherence to quality control processes, and compliance with safety and environmental regulations.

i think criteria same in all industries , however it could be arranged by the priority in my sector (Engineering sector) cost and quality has the top priority, following to lead-time

Cost is always a must when we think about selection criteria. Here is fundamental to start RFQs and compare what the different suppliers in the market can offer. Best practice is to compare all the costs associated to a product (under the same incoterm, taxes, import fees, other transport costs, maintenance, assembly... etc)

Look at the cost of the product or service that this supplier provides. How does it compare with the other options that you're considering? Most people consider cost to be a key factor when choosing a supplier. However, cost is in the middle of the 10 Cs list for a reason. Other factors, such as a commitment to quality and financial health, can potentially affect your business much more than cost alone, particularly if you plan to rely on the supplier long-term.

Finding a vendor that offers competitive pricing while reflecting the value of their work is important. Considering the total cost of ownership is also essential when evaluating potential vendors’ cost structures.

Vendor qualification requires a balance between quality and cost efficiency. Suppliers must offer competitive pricing while ensuring product quality through certifications and rigorous quality control processes. It's crucial that vendors maintain consistency in product standards without compromising on affordability. Reliable delivery performance, responsive service, and technical support are equally important factors. Additionally, the ability to scale and uphold sustainable, ethical practices plays a key role in maintaining this balance.

Talking about delivery and performance, you should be able to assess a ranking to the suppliers based on your own measures. Deliveries on time are key for your production running, and ensure a lean and simplified supply chain can save you a lot of troubles.

Reliability in delivery and performance is critical in supplier qualification. You need to ensure that suppliers can meet your deadlines and provide products or services in the correct quantity, quality, and condition. Monitoring and evaluating supplier performance over time through key performance indicators (KPIs) and service level agreements (SLAs) help in identifying potential issues and maintaining a high level of service. This continuous assessment ensures that your supply chain remains efficient and resilient.

Essa análise acontecerá com o dia a dia da presta??o deste servi?o. A qualidade dos produtos, tempo de entrega e a comunica??o, ser?o avaliados com o decorrer da produ??o. O KPI ou um ERP poderá medir este desempenho n?o apenas da entrega deste fornecedor mas a qualidade da sua produ??o.

Delivery and performance is sadly some times a neglected part of the monitoring. In my experience only the most advanced and dedicated companies are able to really use these datas effectively. The best companies uses tools to measure these aspects, and are able to analyze and use these datas to improve their business relationships and the performance of the vendors.

Key vendor qualification criteria in most industries typically focus on the following aspects: Capability: - Technical expertise and experience. - Adequate resources and capacity. - Compliance with quality standards. - Ability to innovate. Corporate Social Responsibility (CSR): - Commitment to sustainability practices. - Adherence to ethical business practices. - Engagement in community development. Values: - Alignment with company values and culture. - Compatibility for long-term partnership. - Reliability and flexibility. These criteria help ensure vendors are technically competent, ethically responsible, and aligned with your company's values for a successful partnership.

It is crucial to have a fluent and transparent communication with your suppliers. Also your business will make the difference if you work with manufacturers directly, to assess your needs, or via distributors. While distributors are often necessary when your size is smaller than average in the market, you neeed added services such as technical support or a strong logistics partner.

Building and maintaining a positive and professional relationship with suppliers is essential. Effective communication ensures that suppliers understand your needs and expectations and respond promptly to any concerns. Establishing trust, respect, and collaboration fosters a strong partnership. Utilizing various communication channels, such as regular meetings, calls, and emails, helps in maintaining clear and open lines of communication, which is vital for addressing issues and driving continuous improvement.

La relación y comunicación con un proveedor no puede menospreciarse de ningún modo. Fomentar relaciones sólidas y transparentes con los proveedores es esencial para optimizar los procesos de compras. Hay varias técnicas para mejorar la colaboración con proveedores, y una de ellas es integrando a proveedores y compradores en una plataforma unificada. La transparencia y la comunicación abierta son esenciales para maximizar la eficiencia y minimizar riesgos en la cadena de suministro.

Estreitar as rela??es é algo fundamental para um bom desempenho do fornecedor. Fazer com que ele entenda seu negócio trará mais agilidade e confian?a para as negocia??es. O ponto alto desse relacionamento é fazer o fornecedor entrender que n?o s?o apenas negócios mas uma rela??o de parceria.

Innovation is supposed to be in each and every supplier's roadmap but it is not always like that. You want to select a vendor that is continuously improving their products, their technology and giving you this advantage in the market. Your feedback and communication is key, as well as express your needs in terms of product.

The last things, to be innovation and improvement. Supplier is able to be given suggestion to improve or innovate that something good for the product or services to be routine purchased. This one to gain the quality of products, minimize the delivery cost or even can reduce price of products or services. Innovation and improvement must be involving both of stakeholders, supplier and purchaser.

Acredito que manter um bom relacionamento com o fornecedor resultará em grandes ganhos inclusive de inova??o. Importante propor a ele que sempre traga solu??es com o intuito de melhorar o desempenho e a qualidade do servi?o fornecido.

Working with vendors that offer new solutions to enhance businesses or provide a competitive edge through continuous improvement is beneficial for companies looking to stay ahead of their competition.

Innovation and improvement is in my experience often used in the beginning by a vendor, to gain entry. However the most valuable longterm relationships, are forged by continued innovation and improvement. Encountering a vendor that improves their products and understands your needs could be a great benefit and should be valued. On the other side, a company that uses some initial innovation and improvement as a tool just to gain entry, is the start of a relationship that is not as solid as it could be without this hidden motive.