When answering this question, focus on the criteria and processes you use to evaluate and select suppliers. Mention key factors such as cost, quality, reliability, and supplier reputation. Provide examples of how you have successfully selected suppliers in the past, and discuss any tools or methodologies you use, such as RFQs (Request for Quotes), supplier scorecards, or performance reviews. Highlight your ability to balance cost with quality and reliability to meet the company's needs effectively.
Example: "I evaluate and select suppliers based on several key criteria, including cost, quality, reliability, and their reputation in the industry. I typically start with an RFQ to gather detailed information about potential suppliers. I then use a supplier scorecard to rate each supplier on various factors such as price competitiveness, quality standards, delivery performance, and financial stability. For instance, in my previous role, I successfully negotiated a contract with a supplier who not only offered competitive pricing but also had an excellent track record for on-time delivery and quality assurance. This approach ensures that we maintain a high standard of quality while also being cost-effective."
Stand out from the crowd with video applications! Make your video applications in minutes and show the real you.