Factors Affecting the Selection of Optimal Suppliers in Procurement Management
This is a desk top study on factors affecting the selection of optimal suppliers. The main objective was to identify the factors affecting supplier selection; the supplier selection process has also been identified. Factors affecting selection of suppliers were identified as; cost, technical capability, quality assessment, organizational profile, service levels, supplier profile and risk factors, in that relative order. This paper concludes that a cost criterion is a key factor affecting supplier selection for it dictates among many elements, the profit margins.
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This is a desk top study on factors affecting the selection of optimal suppliers. The main objective was to identify the factors affecting supplier selection; the supplier selection process has also been identified. Factors affecting selection of suppliers were identified as; cost, technical capability, quality assessment, organizational profile, service levels, supplier profile and risk factors, in that relative order. This paper concludes that a cost criterion is a key factor affecting supplier selection for it dictates among many elements, the profit margins.