Selecting A Supply Chain Vendor Checklist

Selecting a Supply Chain Vendor Checklist

• Mark all that apply.
• Have you held a brainstorming session to define the business need (goods or services) the the successful vendor will satisfy?
• Is the business need large enough in scope that it will require a formal RFP (Request for Proposals) process in which your organization formally defines the business need and receives formal submissions from vendors in the open market?
• Have you explicitly linked (and documented) how the defined business need links to the organization's larger strategic goals?
• Does the defined business need have realistic cost boundaries and executive budgetary approval?
• Have you conducted an environmental scan for all potential vendors?
• Have you evaluated vendors with formally defined criteria (such as a checklist or ranking!) related to the defined business need?
• Have you considered indirect benefits from vendors such as value-adds or potential discounts on other products in your supply chain?
• To close the loop on the process, to inform future supply chain decisions, and for legal reasons, have you formally documented your rationale behind your choice selecting a particular vendor?
 
For identifying supply chain risks see also Identifying Supply Chain Risks Checklist