How can procurement professionals select suppliers?

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How can procurement professionals select suppliers?

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Answer: During the sourcing stage of the procurement cycle, the procurement professional needs to identify and select suppliers to fulfill the business needs. Supplier selection involves evaluating suppliers against predetermine criteria to assess their suitability in working with the buying organization.

Suppliers can be evaluated according to Carter’s 10Cs which are as follows:

(1) Competency

(2) capacity

(3) consistency

(4) control

(5) cost

(6) commitment

(7) cash

(8) Clean

(9) culture

(10) communication.

Procurement professionals can decide to evaluate and select suppliers based on the overall strategy and the business objectives. After that, it most suitable suppliers receive the documentation (Invitation to tender/ request for quotation).