Several things need to be said about vendors. First, they are very important to a lot of businesses. Perhaps they are important to your business as well. Second, you should have a broad and deep supply of vendors you can rely upon to provide products for your projects. Third, a central file should be kept on all vendors who deal with your company. The central file should contain performance histories of each vendor and, hopefully, a quality process to quantify the vendor's performance. Fourth, you should have an evaluation process to evaluate and reevaluate each vendor for each procurement for each project. It is the fourth item that this process is all about.

For each procurement, establish an evaluation ...

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