Effective Qualification of Suppliers in Manufacturing

The main focus of this chapter is to shed light on the process of supplier selection in the manufacturing industry. In the recent past, supply chain management has become extremely competitive among organizations whose aim is to satisfy the market demand. To satisfy this, the process of supplier selection and evaluation plays a key role in forming an effective supply chain. With the increase in globalization, the traditional supplier selection process where time, cost, and quality were the main priorities have taken a back seat and the focus has now shifted to sustainability and creating a green supply chain ecosystem. With the advancement in technology, the industry is trending toward an approach including the environmental factors. The goal of this chapter is to consider the qualitative and quantitative methods that need to be considered in the evaluation and selection of a supplier. The selection of the right supplier should not solely depend on the price factor but on a series of quantitative and qualitative factors to maintain partnership for a significant amount of time.