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Vendor Analysis

VENDOR ANALYSIS

Vendor evaluation is a key process in the procurement function of every organization. “Vendor Rating” is an analysis of the Suppliers’ Performances in order to estimate the suppliers real technical/quality competencies related to delivered products. Vendor Analysis and performance improvement are a part of quality standards. Evaluation of vendors and creating a strong and consistent vendor base identifies the right vendor based on quality, price, delivery, buyer ratings and inspection.

Benefits

Vendor rating System helps the user in :

  • Evaluation of Supplier’s overall performance in the area of Quality, on time Delivery, Price, Assembly complaints, Services and to identify opportunity areas of improvement.
  • Tracking the performance of the vendor over a specified period.

Scope

The Vendor Rating Systems can be used independently. Alternatively, this system can be integrated with any ERP and legacy systems existing within an organization.

Objectives

  • To evaluate vendors to develop a Quality Vendor base to meet global challenges.
  • Coach and help supplier’s quality for higher level.
  • Reward suppliers who demonstrate continuous growth.
  • Share Supplier’s performance
  • The System evaluates the performance of the vendors and projects the future performance and the corrective action required to improve their efficiency.
  • It helps to improve the production efficiently and accurately.
  • Continuous evaluation to track vendor performance

Features

Monitoring of vendors based on objective criteria Prescreening Factors evaluation and comparison with the existing vendor.

A cocktail report which comprises of :

  • Categories and searches vendors geographically, etc.
  • Vendor/Supplier Score Card application.
  • Check lists.
  • Central repository database of vendors that includes information about each vendor’s business (address, goods supplied, etc.), poor evaluations, and other details about a vendor’s history.
  • Vendors approved Database /reasons for rejection based on merit rating. Comparison of vendors.
  • Flexibility in report selection
  • Security /prevents unauthorized access to sensitive information.

The vendor rating system is targeted towards companies who have streamlined processes and who are conscious of materials sourced. Also, these companies routinely face situation where there are multiple suppliers for a single item and have to choose appropriate vendor. The software definitely addresses all these requirements.

Thus Vendor performance statistics include purchase items that were late, the percentage of cost variance between expected and billed prices and percentage of delivered items rejected.
Finally, the report presents the average lead time and the average days late for each vendor.

Numerous conclusions can be drawn by analyzing these results from a technical, qualitative and management point of view as well as with respect to delivery time. The analysis, extended to various suppliers gives a general assessment on qualification status. Trends can then be examined to evaluate the improvements or deterioration in quality performance.

Online Bidding Solutions

One of the common procurement methods would be Online Bidding Solutions. Online bidding is simple to use, gives you real time information enabling you to make decisions based on actual pricing and data. One can take advantage of the opportunities that impact your bottom line.

Salient Features

  • Secure online bid.
  • Allows vendors to access information without seeing the Company name of other Bidders.
  • Setting Time and date for bids.
  • History of Listed Bidding.
  • Quality Audits.
  • Submission of Bids by vendors in an electronic format.
  • Notification to vendors of bid award and delivery specifications.
  • Option to post bid awards to purchase orders.

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