Friday, November 12, 2010

The Successful Vendor Selection Process

The Successful Vendor Selection Process
The Five Step Vendor Selection Process

By , About.com Guide

The vendor selection process can be a very complicated and emotional undertaking if you don't know how to approach it from the very start. Here are five steps to help you select the right vendor for your business. This guide will show you how to analyze your business requirements, search for prospective vendors, lead the team in selecting the winning vendor and provide you with insight on contract negotiations and avoiding negotiation mistakes.

1. Analyze the Business Requirements

2. Vendor Search

3. Request for Proposal (RFP) and Request for Quotation (RFQ)

4. Proposal Evaluation and Vendor Selection

5. Contract Negotiation Strategies

 

 

 

 

 

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