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New Supplier Questionnaires
A supplier questionnaire is a tool used by many businesses to assess potential suppliers. The assessment involves asking a series of questions. Suppliers answer according to what they feel is right or what they do.
Assessing suppliers may be very challenging, but creating an assessment tool will help a business organize and test suppliers.
The 10Cs model looks into the supplier's aspects and filters out the best suppliers. So, the 10cs are as follows:
- Culture: check if the supplier has a good reputation in the market.
- Cash: find out if the supplier is independent or have another party involved in funding.
- Commitment: check if the supplier commits to offering quality services and products.
- Cost: determine whether the supplier's products and services are affordable
- Competency: a good supplier should offer quality services within a given period.
- Capacity: check if the supplier is within means to deliver the products or services.
- Consistency: find out whether there is a consistent output from the supplier from time to time.
- Control of process: a good supplier has control over their policies and procedures.
- Communication: find out if there are ways established to communicate with the supplier in case of any queries that may arise.
- Clean: check if the supplier is running a legal and certified business and has certificates on risk management.
The model aids in a thorough assessment and evaluation of any given supplier! It is essential to conduct the evaluation process before making deals with suppliers.
Importance of a supplier questionnaire
- Assessing risks
A questionnaire helps a business to assess risks and manage them. Management risks are associated with competency, commitment, and capacity according to the 10Cs. Without this, the organization may fail.
- Track the supplier's performance
A supplier questionnaire helps a business know if the supplier can perform well. According to the 10Cs model, it considers if the supplier has the capacity, commitment, competence, and is clean.
- Stimulates cost
By having an organized questionnaire, businesses can understand the ability of suppliers. It helps in fulfilling their requirements. The supplier is further assessed according to the 10Cs to qualify in competency and cost.
- Protects the Business' Name
A supplier questionnaire helps you get a reputable supplier. Once you are in business with a good supplier, then your brand grows and becomes reputable. You assess according to the 10Cs and is associate it with clean, culture, competency.
- Offers communication
A supplier questionnaire usually aids in assessing how a supplier communicates to both vendors and consumers. It helps to know the gaps in business and come up with solutions.
- Get information
A supplier questionnaire helps you to gather information about different aspects of the supplier. Thorough information on the suppliers is essential to know what kind of suppliers you will get into business.
- Tool for research
A good questionnaire acts as a research tool to help you know the gaps between vendors, suppliers, and consumers. It aids the business to help in resolving the gaps and please both suppliers and consumers.
- Management tool
A questionnaire serves the purposes of assessment and also for evaluation. There is the growth of collaboration in that you work together for the best results.
Tips for making a supplier questionnaire
- Conduct due diligence-Identify your right to do a questionnaire. There is a need to explain your organization's rules and policies.
- Categorize your suppliers-A business should identify high-risk, medium-risk, and low-risk suppliers. Have a way to rank and use your resources perfectly to reduce the risk of management.
- Group your questions-Always review your questions, and remove unnecessary questions from them.
- Stay connected-Make the questionnaires less transactional by offering a phone number where they can call you. Give an office address where they can get you more information. Be approachable to collaborate with the supplier for good returns.
Before starting to work with a supplier, it is crucial to offer them a supplier questionnaire. You can find out their abilities and the services they offer. Evaluating suppliers through questionnaires helps to save on time and your resources.