Supplier Analysis Definition
Supplier analysis is the process of evaluating potential suppliers to determine which ones are capable of providing the goods or services your organization needs. The goal is to identify and select supplier candidates that can meet your quality, cost, and delivery requirements.
There are several factors to consider when conducting a supplier analysis. These include:
-The supplier’s ability to meet your quality requirements
-The supplier’s ability to meet your delivery schedules
-The supplier’s prices
-The supplier’s financial stability
-The supplier’s reputation
To conduct a supplier analysis, you will need to gather data on each potential supplier. This data can be gathered through online research, talking to other businesses that have used the supplier, or by contacting the supplier directly. Once you have collected this data, you can then begin to assess each supplier against your criteria to determine which ones are the best fit for your organization.
