Supplier Appraisal Definition

A supplier appraisal is the process of assessing a potential supplier’s ability to provide goods or services in a timely and cost-effective manner. The goal of a supplier appraisal is to identify any risks associated with working with a particular supplier, and to determine whether the supplier is likely to be able to meet the needs of the buyer.

There are a number of factors that must be considered during a supplier appraisal, including:

-The quality of the goods or services offered by the supplier

-The supplier’s reputation

-The supplier’s financial stability

-The supplier’s manufacturing capabilities

-The supplier’s delivery record

A thorough supplier appraisal will help buyers make informed decisions about which suppliers to do business with, and can ultimately help reduce supply chain risk.