What Criteria Should Be Used for Supplier Selection?
1. Quality and Reliability: Ensure the supplier can consistently deliver high-quality products or services. 2. Cost: Compare the pricing structure of different suppliers to choose the most cost-effective option without compromising on quality. 3. Capacity and Flexibility: The supplier should have the capacity to meet your demands and be flexible enough to adapt to changes. 4. Ethical Standards: Select suppliers who adhere to ethical practices and comply with regulatory requirements.