Week 9 Discussion Board
For this discussion, you are to address the issue of selecting a supplier. You are to reflect on your readings from Chapter 12 and articulate at least three steps that businesses should take in reflecting on choosing a supplier and making these selections in the process. As you provide this definition, make sure that you reflect on the impacts on Highpoint Barnie.
Week 9 Discussion
In the business, the supplier is the important part without which the business cannot be able to run. A supplier is a person or the vendors who supply the raw materials and other ingredients which is important for the business to run properly and effectively.
There are various steps that businesses should take in reflecting on choosing a supplier and making these selections in the process and they are stated below–
The first step is supplier selection Scorecard- The supplier scorecard contains all the information and the elementsthat which one wants in the supplier. The scorecard contains the supplier information related to its policies, the characteristics of the suppliers, the important strategies that the business values or follows, and the contract or the commitment that the supplier made previously to the other organization or people. With the help of the scorecard, all the important information about the supplier will be available
The second step is to identify suitable suppliers- With the help of the scorecard of the various, the business can able to find out which supplier they need to choose for the work or which according to the business can be the best supplier (Falahati et al. 2020, p.5). The supplier’s work and past experiences help the business to find out a suitable supplier whom they can consider the best supplier among all the suppliers.
The third step is Scorecard ranking- Depending upon the complexity and/or criticality of the product or service, the business can choose the supplier with or according to their rank. Selecting the highest rank supplier needs to be a proper meeting and interview with the supplier and within them, the highest quality work and with the information, available of the supplier can be selected properly.
The fourth step is Negotiate– Depending on the critical good or service, you may negotiate with just the top supplier on your scorecard, even if others remain on the list of potentials. The negotiation is done related to the charges or the process the supplier wants for the work. The negotiation helps to get the correct and middle price of the work. With the negotiation process, both parties come to the middle term.
The fifth and last stage is to create contact- Once the agreement is reached the contract is created and duly signed by both parties that which work needs to be done and when (Marugán, Márquez & Pérez, 2022, p.5). Here is the last stage where the contract is made between the organization and the supplier and all the detailed information related to the work is provided here.
Falahati, M., Attar, F., Sharifi, M., Saboury, A. A., Salihi, A., Aziz, F. M., … & El-Sayed, M. A. (2020). Gold nanomaterials as key suppliers in biological and chemical sensing, catalysis, and medicine. Biochimica et Biophysica Acta (BBA)-General Subjects, 1864(1), 129435.
Marugán, A. P., Márquez, F. P. G., & Pérez, J. M. P. (2022). A techno-economic model for avoiding conflicts of interest between owners of offshore wind farms and maintenance suppliers. Renewable and Sustainable Energy Reviews, 168, 112753.