How do you pick a new supplier? The one who offers the lowest cost? The one who guarantees quality? Or maybe a mix of both – which is great but sadly, not enough to determine if a supplier would be the right fit for your needs.
And it’s not just about picking a new supplier either. If you already have multiple suppliers, how do you measure which ones are performing well and which ones are falling behind expectations?
While some large organizations have a dedicated structure and process in place to annually (or quarterly) audit their suppliers, most organizations run on an as-need basis simply because they don’t want to invest the time and energy that those audits take.
For that reason, we bring to you this simple checklist that you can use to quickly audit your suppliers and get a solid grasp on your procurement process.
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