Supplier Evaluations: Best Practices and Creating or Improving Your Own Evaluation
Valerie J. Stueland, A.P.P.
Valerie J. Stueland, A.P.P. – Supplier Manager, Wells Fargo Services Company, (602-378-7604); mcnamavj@WellsFargo.com
89th Annual International Conference Proceedings - 2004 - Philadelphia, PA
In supply chain management, buyer-supplier relationships are critical to the success of the strategic goals of a company. In order for a buyer to keep track of these relationships and assess supplier performance an evaluation process must be in place. Supplier evaluation processes can be informal or formal, as you may have seen from past studies done in supply management; this study will focus ore on formal evaluation processes. Formal supplier performance evaluations can provide both objective and subjective rating of the buyer-supplier relationship. These evaluations can come in a variety of formats. If used correctly, these supplier evaluation matrices can become an important tool in determining the long-term success of a company.