Author : Dr. Varsha Karandikar and Hritikesh Nilawar

Vendor evaluation method is a technique which is used commonly by the consumers in order to determine the suitability of a vendor for a need or want. This technique is also useful for industries to find out the most suitable vendor who can supply parts and components to the company. This research paper is all about following a methodology in order to find out the best possible vendor for an automobile company. In this study, we have taken information from the company about their requirements with respect to a vendor as well as the vendors which are available to the company and their ranking with respect to three different parameters. Then according to the data provided and evaluation priority is given to Quality and then to the delivery time. Referring to these parameters we have studied the performance of the vendors in the past few years. Then according to the evaluation vendors are selected for different products. There is also a part of the research paper where we have scheduled the date at which the parts are to be ordered depending on the lead time. Thus, with the help of Vendor evaluation the best vendors for supply of each and every part are easily identified.

Keywords: Vendor, Vendor evaluation, Priority, Quality, Delivery time, Cost, Lead time.