Supplier evaluation is a term used in business and refers to the process of evaluating and approving potential suppliers by quantitative assessment. The purpose of supplier evaluation is to ensure a portfolio of best in class suppliers is available for use. Supplier evaluation is also a process applied to current suppliers in order to measure and monitor their performance for the purposes of reducing costs, mitigating risk and driving continuous improvement.
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Famous quotes containing the words supplier and/or evaluation:
“You don’t decide to build a church because you have money in the bank. You build because God says this is what I should do. Faith is the supplier of things hoped for and the evidence of things not seen.”
—Jim Bakker (b. 1940)
“Evaluation is creation: hear it, you creators! Evaluating is itself the most valuable treasure of all that we value. It is only through evaluation that value exists: and without evaluation the nut of existence would be hollow. Hear it, you creators!”
—Friedrich Nietzsche (1844–1900)