Basic Vendor Requirements
The following standard is intended as a basis for the production of a vendor requirements document.
1. Value: "Value" should be defined as more than just a good price. Quality, service and delivery are very important in terms of sourcing.
2. Capacity/Distribution: Large companies will often have national scope and high-volume requirements. Vendors must have the capacity and distribution capabilities to meet these requirements over wide geographic areas. Smaller businesses should explore strategic alliances in order to help accomplish this.
3.Electronically Capable: Suppliers must have an electronic catalog and be capable of receiving orders electronically and invoicing electronically. Electronic invoicing cuts down on the turn around time and saves on resources.
4. Stability: Vendors must be able to meet long-term contractual obligations.
5. Diversity: Vendors must be able to demonstrate support for diversity, equity and people with disabilities in the workplace.
6. Workplace Environment: Vendors must have policies, practices and standards in place promoting a healthy environment.