7 Critical Steps of Effective Supplier Selection
Selecting suppliers is one of the most important jobs you have as a procurement professional. A flawed supplier selection process can result in poor supplier performance, supply disruptions, and inefficiencies. Unfortunately, most purchasing professionals don’t use a well-thought-out and consistent method for arriving at the best supplier selection decisions, which are mandatory in today’s challenging business environment.
Developing a reliable process for identifying and selecting the “ultimate” supplier doesn’t have to be an impossible task. You can learn the seven steps designed to help you do a better job of selecting suppliers so that your organization becomes more competitive, more efficient, and more profitable. Upon completing this course, you will be able to:
- Identify the eight most common supplier selection criteria
- Identify supplier selection constraints and criteria
- Apply the “Hierarchy of Constraints and Criteria”
- Apply weighted average scoring to supplier selection
- Develop a scoring scheme used in supplier scorecards
- Analyze proposals, qualify supplier proposals, and use supplier scorecards
- Determine what to use to ensure that your supplier selection process is on target
This is a self-paced course with no instructor-led forum and you have 30 days from registration to complete all course elements. It should take you approximately one hour to review the material and take any quizzes. All readings are provided in the course.
This course has been pre-approved for 1 hour of CE credit towards the CPOS, CPOP, CPOM, and CPOE certifications.