Vendor Evaluation Template is an excel spreadsheet that will allow you to do a simple evaluation of multiple vendors responding to a procurement activity. The template is a good example of the “weighting system” of vendor evaluations.
What is a weighting system?
A weighting system is a method of quantifying data to minimize the effect of personal prejudice on source selection.
High level process:
Step 1: Define the evaluation criteria
Step 2: Assigning a numerical weight to each of the evaluation criteria
Step 3: Rating each prospective sellers on each criteria element
Step 4: Multiplying the criteria weight by the vendor rating for each criteria element
Step 5: Totaling the results to compute an overall score
In this example the highest scoring vendor is the vendor that is the best fit to the evaluation criteria. This vendor may not be the best overall fit. That determination is made after negotiations.
Comments are welcome.
Use at your own risk.