Formal research results in an academic writing style for subject-area experts. Depending on its communication goal, a booklet may resemble a brochure or a technical manual.
The three most common approaches are the categorical system, weighted-point average system and the cost-based system. The categorical system is the most subjective technique since it does not differentiate between the weights of the attributes considered. The weighted-point average system overcomes this drawback by assigning weights to each attribute.
The cost-based system is the most objective of the three methods because it also considers non-performance costs. Categorical System In this method, the buyer chooses attributes that are most important to its particular situation. Then the ratings are totaled for each vendor.
A comparison of total scores reveals the highest rated vendor. The representatives of the involved divisions agree upon the ratings Hillman, Categorical supplier measurement is the easiest method to implement but suffers from subjectivity. Weighted Point Method In the weighted-point method, the relevant attributes are chosen and each are assigned a weight depending on the importance to the overall performance The firm reaches a consensus on weight assignments to prevent or minimize subjectivity.
The weight for each performance category is then multiplied by the performance score that is assigned to it. Finally, these products are totaled to determine a final rating for each supplier. Firms often use the weighted point system because it is highly reliable and its implementation costs are moderate.
In addition, it combines qualitative and quantitative performance factors into a common system. Because users can change the weights assigned to each performance category, or change the performance categories themselves depending on the strategic priorities of the firm, the system is flexible.
The weighted-point method overcomes the subjectivity of the categorical system, but it has some drawbacks. It requires the buyer to specify the value of one performance measure relative to another, which is often difficult in practice.
Cost-Based System Using the cost-based system, a buyer is able to quantify the additional costs incurred if a supplier fails to perform as expected.
The total cost of doing business with the supplier can be calculated by the supplier performance index SPI. This index is calculated for each item or commodity provided by the supplier and has a base value of 1.
It is represented by the following formula: As derived from the equation, the closer SPI is to 1, the better the supplier. Non-costs should include qualitative factors Benefits a buyer can achieve by using this approach include The main difficulty in the use of the system is its complexity and its requirement that users have a developed cost accounting system.
Although this sounds like an ideal way of dealing with costs, it is difficult to identify the costs of supplier non-performance. Against their subjectivity and drawbacks, the categorical method, the weighted-point method and the cost-ratio method are the most widely used techniques in supplier evaluation due to their ease of use and implementation.
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