Discuss the process of Vendor Evaluation and Rating?

Discuss the process of Vendor Evaluation and Rating?" ---- Hi... The vendor evaluation and rating process is very important in selection of vendors. It is important that you have detailed knowledge about your priorities and requirements as this would be the basis on which you will have to evaluate your vendors. Following are the key steps:

System Requirement analysis: Against which you will compare each vendor.

Prioritised Requirements: Highlighting requirements upon which rating or scoring is done.

Scoring: Simply scoring criteria.

Candidate selection: Based on the highest scoring candidate. --- Ketan Verma