|Type of paper:||Article|
|Categories:||Goal Analysis Business communication Customer service|
Vendor selection is complex, and demanding, and as a result, it requires intense scrutiny by the recommended organizational body in charge of the vendor section. The memorandum here by purpose to design the ultimate vendor selection process that is in line with the company's long-term goal. As a company, we have branded our products and services along the lines of quality but at the same time exploiting the lowest cost. Under this circumstance, we require to source suppliers who have the best services and products that are quality assured but need to consider our sustainable cost demands. For our cooperation to source vendors, we have committed to considering certain factors such as:
The company's goal is to acquire quality of products at low cost. To accomplish this its advisable that we as a company keep the bidding open for multiple suppliers so that we can source the most suitable supplier bid that meet our goal (Toloo, 2016). Opening up for multiple bidders will also keep the prices competitive to the company's advantage. Quality in Products and Services Delivered
Company quality in products and services cannot be comprised at whatever cost as it keeps the company brand at afloat in the market longer. According to Mak & Nebebe (2016), high-quality product attracts consumers and keeps consumer loyalty intact. Vendors with reasonable prices should only be considered if the products and services offer are of high quality because quality cannot be compromised by price. The vendors should be advised on the need to offer the best of products and services. To sustain quality supplier products need evaluations before signing for product and service acquisition.
Timely Delivery of Products and Services
The vendors sending in their bids musts are warned of the company keenness in punctuality on product services delivery among other areas. The vendors should be ready on time to deliver goods as per agreed times. Vendors contracted should quote how often and what times they make deliveries is it weekly or monthly. To keep delivery timely the company has punctuality penalties in place if the vendor fails to meet agreed on time
Constant Supply of Products or Services
Vendors contacted should be on a long time basis to avoid time wastage by repeating the vendor selection process. Vendors sending in bids should be well aware of the market they are venturing in, it strengths and weakness .Also how to leverage available resources in times of scarcity for their contactor companies just to keep their supply constantly coming through. Often to keep vendors in check it is advisable to check the vendors past history and duration the vendor has been market operational (Toloo, 2016). It is also advisable to check the vendor's referees and reviews. Such measures keep the company guaranteed of product and service delivery for the contacted time with no retractions of contract due products supply delays.
Flexibility in Supply
Business markets keep changing and consumer interest shift from time to another. It is wise for the corporation to contract vendors who are flexible in the product supply and time delivery. As the market change, the contracted vendors should be willing to change with their contactors needs (Yildiz & Yayla, 2015). Incase new category or substitute supplies are needed for delivery, change in delivery times among other things the vendors should be open for the company new demands as long as they area well negotiated to suite the supplier sourcing and delivery.
Outstanding customer service team is easy to deal with and as a result, the consumers keep attracted to the brans due to services and feedback offered. This does not only work for consumers but also suppliers need to be related and easy to work with in sourcing products and services. According to Mak & Nebebe (2016), excellent, customer services keep a good and health working relationship between the contractor and supplier an element positive for any business growth.
Excellent vendor supply services translate to excellent company output of products to services. The consumers need remain met and the company brand remains relevant for long in the market (Yildiz & Yayla, 2015). Coca-Cola Company is world largest brand that contract vendors for a variety of services and products. The company being an international conglomerate has managed to remain relevant to consumers due to their high qualities services and services at a reasonable market price. The achievement has come in handy due to the well-sourced suppliers across a wide range of departments. The company well-defined vendor selection process has kept the company a brand to watch out for. It will be best if adopt a vendor selection criteria similar to that of Coca-Cola for our brand to remain marketable longer.
Mak, T., & Nebebe, F. (2016). Factor analysis and methods of supplier selection. International Journal of Supply Chain Management, 5(1), 1-9. Retrieved from https://pdfs.semanticscholar.org/2529/a798bec7d696cc063419e82dac5de50f033f.pdf
Yildiz, A., & Yayla, A. Y. (2015). Multi-criteria decision-making methods for supplier selection: A literature review. South African Journal of Industrial Engineering, 26(2), 158-177. Retrieved from http://www.scielo.org.za/pdf/sajie/v26n2/14.pdf
Toloo, M. (2016). A cost-efficient approach for strategic vendor selection problems under certain input prices assumption. Measurement, 85, 175-183. https://doi.org/10.1016/j.measurement.2016.02.010
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