After the proposals and bids have been submitted by the vendors, the next step in the process is to select a vendor that can fulfill the needs of the project. This process is known as source selection. Several determining factors are associated with source selection, including pricing and technical aspects. The process frequently involves the use of a weighting system to determine the best vendors based on numerous criteria.
A weighting system is a multiple-step process and initially involves the identification of several attributes, such as the following:
Previous history with the company
Other relevant aspects of the product or service
After these attributes have been identified, a weight ...