Price rating is calculated on comparing the present price with average/least price for a selected time period.
Quality rating depends on two factors
- Certification (i.e. firm is ISO certified or certified by IRS, ABS, DQA(WP), DQA(N), PSU, etc)
- Quality Acceptance (i.e. Material is accepted during first inspection or second or third inspection, etc.)
The combination of above factors gives the overall quality rating of any vendor for particular item.
Delivery rating of any supplier is calculated by comparing the actual delivery with the contractual delivery date. Depending on the number of days the delivery is delayed with respect to contractual delivery date, various Ratings have been defined.
Service rating for particular supplier is given by individual project officer. This rating is given on basis of support rendered by vendor both pre & post PO including trials, Guarantee period.
This is a combination of all above factors. Different weightages can be given for above four factors out of 100. The combination of all above factors gives the overall performance of the vendor.