What is supplier rating and how you do this means what is consideration in this

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Accepted Answer

Supplier rating is the process of evaluating and ranking suppliers based on their performance and capabilities.

Supplier rating involves assessing various factors such as quality, delivery, cost, and responsiveness.
The ratings are typically based on a numerical or letter scale, with higher scores indicating better performance.
Supplier ratings can help organizations identify areas for improvement and make informed decisions about which suppliers to work with.
Considerations in supplier rating may include the supplier's track record, financial stability, and compliance with regulations and ethical standards.
Regular reviews and updates to supplier ratings are important to ensure ongoing performance and maintain strong supplier relationships.

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