An evaluation is the act of assessing something or someone. In procurement, evaluations are conducted on suppliers and their products or services to determine if they meet the buyer’s needs. There are several types of evaluations that can be performed, but the most common is a Request for Proposal (RFP) process.
Evaluations can be used to assess just about anything, but in procurement, they are most commonly used to assess suppliers and their products or services. The purpose of an evaluation is to determine if the supplier can provide what the buyer needs at a fair price. There are several different types of evaluations that can be performed, but the most common is a Request for Proposal (RFP) process.
In an RFP process, the buyer issues a request for proposal to multiple suppliers. The RFP includes all of the information that the buyer believes is necessary for the supplier to provide a proposal, including a description of the product or service needed, any specifications that must be met, and the timeline for delivery. The supplier then responds with a proposal that includes their price and other important details. Once all proposals have been received, they are evaluated by a team of buyers who score each one based on criteria set forth in the RFP. The highest-scoring proposal is then awarded the contract.