Vendor requirements and evaluation in a just-in-time environment

One of the essential tasks in implementing JIT is to integrate suppliers in the overall strategy. The process of vendor evaluation and selection is a time-consuming and critical aspect of establishing vendor partnerships. The various attributes that are important in implementing JIT into the purchasing process are discussed. These attributes are categorised as financial, service, and technical. Several traditional vendor evaluation procedures are examined, their advantages and disadvantages described, and a new dimensional analysis model is introduced. This model has certain advantages over the traditional methods. An illustration of how the model can be used to assist purchasing in the selection of suppliers is given.