Supplier Evaluation Criteria to Strengthen Supply Chain and Connections with Suppliers

Supplier Evaluation Criteria
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Supplier Evaluation Criteria
To strengthen the supply chain and maintain connections with suppliers, most organizations regularly analyze their suppliers' performance, looking for bottlenecks or opportunities for future growth. These supplier evaluations are comprehensive analyses based on quantifiable measures indicators and astute qualitative observations. The most important criterion while working with a company is product quality. According to Abdolshah (2013), the quality levels of a procurement item should consistently meet the specified product standard since it can affect the quality of finished products. Thus, product quality dictates the reliability of an item and helps the company minimize risks.
Process capability indices are among the essential methods I would apply in evaluating suppliers. According to Abdolshah (2013), precision capability indices include a modified likelihood ratio rule that compares two one-sided products to determine the best item with the ...