Discussion Board - Evaluating Suppliers and Vendors Assignment

Discussion Board - Evaluating Suppliers and Vendors - Assignment ExampleThis evaluation should imply an in-depth research on the activities that the vendors and suppliers engage in. The evaluation should also focus on the value added that the various suppliers, and the vendors are likely to bring to the company. Secondly, it is important to decide on the performance indicators. It is important to define the roles and the characteristics as well as the behavior that the vendors and suppliers should show or exhibit in the course of the business transactions. This will throw a clear picture of the managers expectations to the vendors and suppliers. The performance criteria and the measurement of performance are subject to the performance indicators, and all vendors and suppliers need to be certain of it. It is after setting the performance indicators that the manager should come up with the duties of individuals in the company in relation to the suppliers and the vendors. When dealin g with the suppliers, it is necessary that the teams or de authorityments that deal with the suppliers at present are able to give their honest opinions about the suppliers and vendors. It is useful that they help with the ratings when it comes to the way the suppliers and the vendors are engaging in business. This will give the manager the initiatory hand information about the suppliers and the vendors. Then it is necessary to create a respectable rapport with the vendors and the suppliers. It is at this point that one should treat the suppliers and the vendors as part of the larger management team. It is necessary that proper communication and communication channels are put in place by the manager to allow for devoid flow of information (Vendor Management, 2005). The manager needs to address the issues affecting the vendors and suppliers in an open and honest manner at all the times to maintain the good relationship. Finally, it is important to get rid of underproductive vendo rs and suppliers to avoid wastage for the