Source selection criteria describes properties that are crucial for a purchaser when deciding on a supplier. Criteria can be subjective or objective. Individual judgment can be biased, which may require balancing with objective measures. One approach is to identify a list of criteria such as cost and financial stability, assign a weight to each one and to score each vendor on each criterion. Then multiply the score by the weight and sum to get a final score. .
Criteria
Criteria can be specific to the desired item(s). Sample criteria:
* Total costs (including works and maintenance)
* Ability to finance
* Capability for technical matters
* The distribution of risks
* The shape of business
* Previous works and references
* Providing Warranty
See also
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Vendor bid analysis
Vendor Bid Analysis (Vendor analysis) is a technique used to figure out the cost of a project by comparing the bids submitted by many suppliers. This can be accomplished by considering the costs (via quotes, bids, proposals, etc.) presented for pr ...
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Stock selection criterion
Stock valuation is the method of calculating theoretical values of companies and their stocks. The main use of these methods is to predict future market prices, or more generally, potential market prices, and thus to profit from price movement †...
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Government procurement in the United States
In the United States, the processes of government procurement enable Federal Government of the United States, federal, State governments of the United States, state and local government bodies in the country to acquire goods, services (including c ...
References
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External links
Department of Defense Source Selection Procedures - USTranscom
Procurement