A supplier is an individual who provides products or services to any entity. A supplier basically acts as the intermediary between the manufacturer and business entity. Suppliers provide high-quality products and try to meet up the demands of the distributor. Suppliers are in contact with different manufacturers that provide a variety of products with different costs and quality. A distributor gets in touch with the supplier for a specific product and order specimen that meets their demands and are of good quality.
Suppliers are very important at every stage of the product. Distributors cannot contact each manufacturer, so they need an intermediary who provides every information they need to know about the products such as their quality, robustness, speed, and cost. Companies work very closely with suppliers to enhance the marketing of their products.
Supplier feedback forms provide means for the assessment of suppliers. Various businesses and companies devise a supplier feedback form to evaluate the potential of their existing suppliers and in order to get in touch with other suppliers. This form consists of some questions that are based on different parameters such as time management, capacity, regularity, and quality to ensure the best vendors in the market.
These feedback forms act as an essential tool to monitor the performance of suppliers to reduce costs related to time waste, risk management, and constant improvement in selecting suppliers. The supplier feedback form is based on the following features to ensure the evaluation of suppliers more efficiently. These features include:
- The capacity of suppliers to deliver products to the company.
- The competency of suppliers to complete a given task in time.
- To evaluate the financial independence of the supplier.
- To ensure the presence of a legal license of the supplier.
- Market reputation of the supplier.
- Cost-effectiveness of products provided by the supplier.
- If a supplier is equipped with the latest communication skills to answer queries put forward by companies.
Requirement of companies…
Supplier feedback form is designed by the company the supplier works with and require following information
- The form contains a separate section for the supplier’s name, ID, business title, and name of the manager.
- The feedback form contains several columns, one of the columns signifies the attributes of suppliers, whereas other columns rate the performance of the supplier in those attributes.
- Rating of supplier attributes ranges from poor to excellent including fair, satisfactory, and good.
- The design of feedback forms may differ from one company to another and similarly, the criteria of evaluation may also differ.
The attributes of suppliers include:
- Time suppliers require to deliver products.
- Knowledge about the products being delivered.
- Communication skills of the supplier as he needs to communicate with both manufacturer and realtor.
- Punctuality and regularity of the supplier.
- Determination of the supplier to get things done in the required time.
- If the supplier is someone who can be trusted with money and is dependable.
Major companies and institutions also get in touch with other institutes to seek all the information about the supplier therefore, it is very important for the supplier to maintain a good reputation everywhere.