After establishing the purchase and vendor evaluation criteria, it's time to put together a broad list of potential vendors. The vendors should be compared alongside one another in order to help define the most suitable candidate.
Use this tool to complete the following activities:
- Shortlist top candidates based upon a variety of categories.
- Demonstrate the thoroughness of the evaluation process to internal stakeholders.
This tool can be used in any purchase scenario but is particularly effective in shortlisting candidates to a manageable size (three to five candidates) before issuing a Request for Proposal.