What is a Supplier Evaluation Process? – Definition
The supplier evaluation process is a comprehensive system designed to evaluate suppliers, analyze the quality of their products and services, and decide which vendors should become part of an organization’s supply chain. It’s essential for businesses to understand their supplier base and make sure they are able to meet their needs. In this article, we will explore the definition of a supplier evaluation process, look at its key elements, examine its purpose, and discuss why it’s important to have one in place.