People select vendors due to specific reasons. The ranking order as seen in the image attached are;
- A - 2
- B - 4
- C - 3
- D - 1
There are different Benefits of vendor rating systems. They include:
- It helps to minimize subjectivity in terms of judgment and make possible for one to look into all relevant steps in assessing suppliers.
- It also gives feedback from all sectors in one package.
- It helps promote better communication with vendors.
Conclusively, It helps gives full control of the vendor base. some of the qualities are low cost issues, low quantity, high shipped on time etc.
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