Describe the steps in vendor selection
Steps in vendor selection
Coca-Cola is working towards engaging suppliers of all ingredients through supplier engagement program. The vendor selection process comprises of seven stages. In this case suppliers are given all the required information, guidance, audits, validation of performance and progress measurement so that they can qualify. Coca-Cola company can measure the vendor selection process through seven steps, which are described below.
- Initiating Engagement
- Suppler agriculture guiding principles: – SAGP is about sourcing the requirements and best ways to validation.
- Path Selection: – the process to validate the vendor through the process of certification, qualification and audit.
- Embarking validation: – the process of assessment
- Validation: – the process of audit through the audit of 3rd party against standards.
- Audit: – Audit meeting
- Entire Supply Audited: – The meeting which has been carried out for part of supplier’s entire volume. (The Coca Cola Company, 2016)