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What parameters you think is more important In Sourcing & Vendor development?

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Question added by Gaurav J Tare , Sourcing & Purchase Leader , ABB India Limited, Oil & gas, Power & Automation Sector
Date Posted: 2014/01/03
Alexander Kurunthottical
by Alexander Kurunthottical , 22+ Years of Procurement & Contracts Management , N A

The key parameters in sourcing and vendor development are:

1. Using the expertise and input of correctly sized and rated vendors for efficient, timely and appropriate sourcing of solutions and services.

2. Actively maintaining quality and cost levels, maintaining a strong negotiating position and being aware of the market price throughout the life cycle of the service

3. Incorporating major technological innovations and opportunities into mainstream business practices

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