Vendor management & selection policy

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  • Provided by TechRepublic Premium
  • Published December 10, 2020
  • Topic TechRepublic Premium
  • Format PDF

The Vendor Management & Selection Policy from TechRepublic Premium describes the processes and procedures the organization’s employees and representatives must practice when issuing requests for and receiving product and service cost estimates, when awarding bids and when selecting consultants, suppliers, and vendors of goods and services.

From the policy:

Purpose

The purpose of the Vendor Management & Selection Policy is to define for employees and representatives the organization’s requirements for issuing and receiving bids for products, supplies, services, projects, maintenance, and goods. The policy seeks to ensure all vendors are chosen due to a supplier providing the most competitive and effective solution via a fair and equitable process that treats all potential vendors equally and imparts no predetermined advantage to any specific entity. This policy can be customized to meet the needs of your organization.

Scope

Because vendors supply the organization with critical supplies, goods, products, services and maintenance, and because these components possess a direct material impact on the organization’s success, all organization employees and representatives are subject to the Vendor Management & Selection Policy. The policy applies to all organization requests for proposals (RFPs), bids, contracts, purchases and orders of goods and services.

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