The first step in the supplier selection process is to create a supplier selection scorecard.
The supplier selection scorecard contains all the important elements you require in a supplier. It has long been stated, “That which does not get measured, does not get done”.
Your scorecard should be quantifiable and include:
Supplier characteristics
The important strategic alignment factors you value.
Applicable business policies.
Any constraints – management directives, government regulations, contracts already in place, and current relationships and commitments.