Vendor assessment is the selection process to evaluate whether a potential vendor and supplier could meet organizational requirements and responsibilities after entering into a contract. 

The assessment serves as the foundation for successful vendor relationships, ensuring that vendors are not only capable of meeting organizational requirements but also aligned with company values and objectives.

With Consultport’s vendor assessment kit, we introduce the 5 essential steps to performing vendor assessment and provide useful tools in each step, including a checklist with crucial criteria for vendor selection and a template to evaluate supplier performance.