Question

Obviously, it is important to know which suppliers are good and which are bad. There are many ways companies attempt to develop & maintain this knowledge. Some ways are easy to develop and use, others are hard.

1) Give an example of at least 3 different ways you could attempt to measure whether a vendor is good or bad.
2) Under what circumstances would you prefer each approach?

Answer 1

1) There are many ways in which you can attempt to measure whether it is good or bad. Some of these are:

• Payment behavior: You make sure that your vendor maintains a clear accounting relationship, there must be no errors in it. Vendor is there to help in growing your business, if they will show an error in accounting, it would be loss situation for you.
• Professional behavior: It is a form of etiquette in the workplace that is linked primarily to respectful and courteous conduct.
• Soft skills: Your vendor must have soft skills like how to talk, how to behave properly, how to represent your company in front of anyone else.

2) I would prefer to cover all cases and i will approach a mixture of them. I do not anyone to have just one skills which is compensating other skills. They must have a mixture of all skills in every circumstances.