Authored on: Jan 13, 2012
Download Clients are looking into the marketplace more often nowadays to buy a product or solution, rather than building it on their own. So it is extremely important for clients to follow an effective and efficient vendor selection process. In this article, I have presented a quantitative methodology to determine the best-fit vendor based on numerical scoring of vendor�s response to a RFP or RFI. In this approach, a total score in �vendor points� is assigned to the overall RFP which is distributed to the RFP categories, subcategories and RFP questions based on their relative importance. Based on vendor�s response, client evaluators will rate the RFP questions using predetermined qualitative choices. These will then be converted into a numerical score which will be summed up to determine overall vendor score. Analysis of vendor scores will help clients determine the best-fit vendor product or solution.