How can you determine the most qualified suppliers for your project? (2024)

Determining the most qualified suppliers for your project is a critical step in ensuring the success of your supply chain and overall business operations. Here are steps you can take to identify and select the most qualified suppliers:- Define Project Requirements- Supplier Qualification Criteria- Request for Information (RFI)- Request for Proposal (RFP)- Compliance and Certifications- Financial Stability

This is the single most important piece. As with everything, 90 percent of success is in preparation. Are requirements both from business perspective and technical perspective covered? Make vs buy? Risk offset vs costs? Are the right people involved? Where are we starting from (baseline) and in few words - how will we define success? What is a must and what is nice to have? And maybe if we don’t know enough, ask the market through an RFI or through a dialogue first. The procurement sourcing process when lived correctly provides necessary guidance to ask all these questions and only then we can ask the right questions to determine the right partner.

To select a potential supplier we need to go for the processes likeFunnelling Process : Long list of supplierRFIRFPRFQShort list based on QCD ( quality cost and Delivery)SQIPNegotiation for bestFinal List

Determining the best fit supplier for a project is very critical for the overall success of a project, it is much more than scanning a series of pricelist as you need. The best way in my own opinion before selecting the supplier is by considering below steps; -Defining your needs/requirements. -Conducting market survey/ benchmarking. -Qualification Criteria.-Request For Information.-Request For Proposal.-site visit.-References & past perfomance -Risk assessment-Assessing financial stability, -Terms and ConditionsBased on evaluation & negotitation of the process, Selection/contract development can be made based on responsiveness,capability, price, value for money and quality.

In my view, defining your project requirements is the fundamental step in selecting the most qualified suppliers. It ensures you have a clear roadmap of what you need in terms of specifications, quality, quantity, budget, and delivery time. taking into account ethical, environmental, and social standards is crucial to align with your clients' expectations and your project's overall success. A well-defined set of requirements is the cornerstone of effective supplier selection.

The way to determine the most qualified suppliers for my project is to research the market. This involves identifying the project's needs, evaluating suppliers based on their experience, capability, and industry reputation, comparing offerings, gathering customer feedback, and checking regulatory compliance. This research enables me to make informed decisions to select the most suitable suppliers for the project.

Sim e contar com o apoio de instituições específicas para qualificação de fornecedores, Reginald caso seu negócio possua mais de uma planta! Isto ajuda muito no processo de prospecção

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Para construir uma projeção e um planejamento de demanda assertivo, não basta computar dados quantitativos, por posições históricas (Quando existir) ou por espelhamento de demanda de produtos com a mesma base, mas o diferencial seria a aplicação de dados qualitativos, que só conseguimos através do estudo de mercado, sendo por ferramentas e empresas especializadas, mas também por retroalimentação de informações internas, transliterando em dados estratégicos.Com a informação computada, temos o primeiro passo para encontrar fornecedores que atendam a necessidade.

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Basic thing, if you are purchasing staff or associates or managers. Important to have wide network, enlarge your network by attending show or event. Or one of best tips are to joint with community. Event will enlarge your network and also bring you options, while joint the professional community makes you have another POV or perspective in user side.

Once you have defined your requirements, you need to research the market and identify the suppliers that can meet them. You can use various sources of information, such as online directories, trade associations, industry publications, referrals, or networking events. You should also check the reputation, credentials, and reviews of the suppliers you find. You can use criteria such as experience, expertise, capacity, reliability, innovation, and customer service to evaluate them.

Having the perfect quotation is very important.But some key factors also should be considered during quotation since prices may vary from supplier to supplier based on their quality & service. So to choose the right supplier, considering the quality & delivery factors, negotiations should be flexible.

When we requested the quotations from suppliers, we needed to make sure that they had signed a Non-disclosure agreement with us. This is to protect the information that they cannot disclose it to other parties.When we received the quotation from them (at least from 3 different suppliers),we need to analyze all the terms & conditions that they stated out in their quotations and not limit only to prices, payment term, delivery & warranty. But if only have 1 supplier, we need to benchmark their quotations with the product that they currently supplied in order to ensure that they quoted us the reasonable, correct and best price.

I request quotations from potential suppliers by preparing a detailed RFQ, distributing it to selected suppliers, and evaluating the received quotations based on pricing, quality, and delivery terms. I then negotiate with suppliers, if necessary, and select the best one that aligns with our project requirements and budget.

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Simple rule, cheapest is not always the best supplier. Match the quality of offered product or service with your requirements, then past experince, check references, look at financial stabilty, qualification and experience of key personnel of supplier.

Importante o desenvolvimento de uma rfi e rfq bem detalhadas para o indice de assertividade ser alto! Também usar da matriz de segmentação ajuda a definir orçamento da quantidade de cotações ou não para uma contratação

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To find the right supplier, it is important to check their history and major clients that they work for. It will define their standard.Once finalized,identifying the risks & set plans to overcome can help.

I conduct a thorough risk assessment by considering factors such as supplier financial stability, production capacity, reliability, and past performance. I also evaluate the geopolitical, market, and regulatory risks that could impact the supply chain. This comprehensive evaluation helps me make informed decisions and mitigate potential risks throughout the procurement process.

Yes i am agreed with you. And I am doing this before confirm orders like Negotiation price, supplier capacity, payment terms, Inspection terms and shipment mode.

Yes i am agreed with you. And I am doing this before confirm orders like Negotiation price, supplier capacity, payment terms, Inspection terms and shipment mode.

I conduct thorough due diligence on potential suppliers. This involves verifying their legal and financial standing, assessing their production capabilities, and ensuring compliance with industry standards and regulations. Additionally, I review their past performance, customer relationships, and reputation in the market. This meticulous due diligence process helps me make informed decisions and build strong, reliable partnerships with reputable suppliers for our company.

Consideremos que para la selección del proveedor, en base a los requisitos que se establecen en principio como los riesgos, se definen los criterios de evaluación que brindarán la objetividad del análisis realizado y al resultado de un ganador, finalizando en muchos casos, con la hom*ologación para sincerar la información brindada y sea incluído en un portafolio recurrente de proveedores como "calificado".

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- Prepare the bidders list from the pool of evaluated suppliers database.- RFI- RFQ - Evaluate bids on ground of Technical, commercial, Legal aspect.- Negotiate with all suppliers.- If requirement arises, conduct a round of E bidding to get best pricing.(select the method of auction based on number of suppliers, number of line items, difference in pricing amongst suppliers).- Use Analytical hierarchical process to rate suppliers and have apple-to-apple comparison.- select the supplier with best rank.

1. Evaluate all the bids based on Analytic Hierarchy Process to ensure cost is not the only deciding factor. 2. Negotiate with suppliers not only to reduce cost, but to ensure overall supply objectives are achieved.

The final yes-or-no question I personally always ask: is this potential supplier gonna have a positive impact on our 🌍 or not?

In short:Experience, Expertise, Capacity, Reliability, innovation & good customer service and also finally to research the market for their influence.

After we gave our requirements to suppliers, they had submitted the quotation, we had conducted the due diligence,we needed to negotiate and finalize the contract including pricing, payment terms, delivery schedules, quality control measures, and any other specific requirements. To ensure that they have the necessary capabilities to meet our requirements and deliver a successful and fit for the purpose product to us.