Is the first step to effective sourcing supplier evaluation? Well, not quite but it is definitely one of the more important steps. This paper provides guidance on supplier evaluation and relationship building.
"The evaluation and selection of suppliers, structuring the supplier base is an important task in any organization. It assumes utmost importance in the current scenario of global purchasing. Every Organization especially manufacturing organizations need to have a Supplier evaluation matrix or model in place. This paper tries to bring in a typical Supplier Evaluation Framework, which blends with company’s basic values, and help in establishing a Strategic sourcing policy. It also outlines ways and means to reward a supplier and establish long-standing relationships with suppliers."