Source selection criteria

Source selection criteria describes properties that are crucial for a purchaser when deciding on a supplier. Criteria can be subjective or objective. Individual judgment can be biased, which may require balancing with objective measures. One approach is to identify a list of criteria such as cost and financial stability, assign a weight to each one and to score each vendor on each criterion. Then multiply the score by the weight and sum to get a final score. .[1][2]

Criteria

Criteria can be specific to the desired item(s). Sample criteria:

  • Total costs (including works and maintenance)
  • Ability to finance
  • Capability for technical matters
  • The distribution of risks
  • The shape of business
  • Previous works and references
  • Providing Warranty

See also

References
  1. "Source Selection Preparation and Evaluation". 18 July 2013. {{cite journal}}: Cite journal requires |journal= (help)
  2. "Source Selection". Retrieved 31 March 2017.
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