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Before selecting a vendor, it is important to keep a number of factors in mind in order to prepare for contract negotiations with the selected vendor.
Key Selection Criteria to Consider
Regardless of whether the organization uses an RFP, RFI, RFQ, competitive bidding process, or simply conducts informal background research, there are a number of key factors to consider before selecting a vendor in order to enhance the organization's likelihood of success at contract negotiations with the selected vendor. These factors include: