Supplier Evaluation » WayV Technology
Project Management

Supplier Evaluation

By August 23, 2021 September 6th, 2021 No Comments


The goal of evaluation suppliers is to double-check the qualification of products or services you acquired from them. Such evaluation means to guarantee the accuracy of the information they provide you and reflect the reality seen when they actually deliver the product or service.

When the quality of your product or your brand reputation might be directly affected by third parties, supplier evaluation becomes a vital process in your supply chain, managing the risks your partners might bring your way. That’s why it’s important in every step of your supply chain: raw material, production, packaging, storage, transportation and distribution.

It’s important to distinguish qualification from certification. The qualified suppliers are those who, after being audited, are within the quality standards you’d expect. The certified ones are those who have achieved the maximum excellence during the audit evaluation.

Each company is free to establish its own criteria for the evaluation of its suppliers. To ensure such evaluation is done efficiently, it’s primal to use the appropriate tools, such as a proper digital checklist that can give you real-time results so that you don’t realize issues when they become costly problems. This checklist should have items to be assessed, such as:

C (Critical): essential requirement, critical influence;
N (Necessary): Important requirement, not that critical influence;
R (Recommended): Important requirement, not critical, but that contributes to the supplier’s improvement;
N/A: Not applicable.
For the supplier to be qualified, they must have the following minimum compliance results:

100% of the critical items;
80% à 100% of the necessary items
20% of the recommended items. 

WayV makes the management of suppliers much easier. With the help of our tool, you can manage the license’s expiration dates, custom inspection checklists, notifications and automated workflows for approvals, automatic email communication with suppliers with all the details of their evaluation, and so much more. In the end, your KPIs (included with our tool) are generated in real-time and will show you clearly the improvements you expect.

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