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Vendor Development & Evaluation

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Ankit Gokani
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Vendor Development & Evaluation - August 7th, 2008

The field of purchasing, which is a subset of materials management, centers on supplier or vendor selection. One of the major challenges for today’s purchasing managers in any industry -be it service or manufacturing-is selecting the right vendors for their components, parts and supplies. Selection of vendors includes determining the vendors and the amount of order to be placed on each vendor. Choosing the appropriate vendors is extremely important since total quality management and customer satisfaction, are the goals of almost all organizations. The performance of vendors has a significant impact on the productivity, quality and competitiveness of an organization. The importance and difficulty of selecting suppliers is complicated. According to the latest business trends, some of the important things which need to be considered are - the increase in the value of purchased parts as a percentage of total revenue for manufacturing firms; growth in imported parts and supplies; and the increased rate of technological change accompanied by shorter product life-cycles. High technology firms purchase materials and services up to 80% of their total product costs. Japan purchases up to 40%more supplies and materials for their automobile industries compared with their counterparts in the United States and Europe. Most organizations typically spend 40% to 60% of the revenue of their end products on purchased parts. Selection of vendors based on quality, price, delivery, service and capacity generally ensures buyer satisfaction.
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Ankit Gokani

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Re: Vendor Development & Evaluation - April 22nd, 2009

any one is having project on vendor evaluation & development of reliance infrastructure.......................
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Jitendra Mazee
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Re: Vendor Development & Evaluation - March 1st, 2016

Quote:
Originally Posted by ankitgokani View Post
The field of purchasing, which is a subset of materials management, centers on supplier or vendor selection. One of the major challenges for today’s purchasing managers in any industry -be it service or manufacturing-is selecting the right vendors for their components, parts and supplies. Selection of vendors includes determining the vendors and the amount of order to be placed on each vendor. Choosing the appropriate vendors is extremely important since total quality management and customer satisfaction, are the goals of almost all organizations. The performance of vendors has a significant impact on the productivity, quality and competitiveness of an organization. The importance and difficulty of selecting suppliers is complicated. According to the latest business trends, some of the important things which need to be considered are - the increase in the value of purchased parts as a percentage of total revenue for manufacturing firms; growth in imported parts and supplies; and the increased rate of technological change accompanied by shorter product life-cycles. High technology firms purchase materials and services up to 80% of their total product costs. Japan purchases up to 40%more supplies and materials for their automobile industries compared with their counterparts in the United States and Europe. Most organizations typically spend 40% to 60% of the revenue of their end products on purchased parts. Selection of vendors based on quality, price, delivery, service and capacity generally ensures buyer satisfaction.
Hey ankit, many thanks for sharing this nice article on vendor development. Well, as we know that vendor development is one of the well-known strategies of tactical sourcing, which enhances the value we get from suppliers. For more details, please download my presentation.
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