Free Vendor Evaluation Form Template

Tips For Using the Vendor Evaluation Form Template

Vendor evaluation allows you to measure vendor performance and determine if they satisfy your demands and expectations. Using evaluation forms allows you to easily assess vendor performance based on your preferred criteria.

Here’s how to create simple vendor evaluation forms with Formplus:

How Do You Do a Vendor Evaluation?

Step 1: Open the Formplus vendor evaluation form

Step 2: Customize the form to fit your evaluation criteria

Step 3: Set up submission notifications and reminders.

Step 4: Share the form with evaluators and vendors via email, or QR code.

Step 5: Use the analytics dashboard to draw insights from evaluators’ responses.

What Is a Vendor Evaluation Form?

A vendor evaluation form is a document that is used to assess and rate a vendor's performance based on specific criteria. The evaluator rates the vendor's performance in areas such as product or service quality, pricing, delivery speed, customer service, and communication.

You can use a vendor evaluation form to make informed decisions about which vendors to continue working with, and the ones to terminate contracts with. It can also help you build long-term relationships with existing vendors and identify new vendors for future business opportunities.

What Is the Purpose of Vendor Evaluation?

The primary goal of vendor evaluation is to help you measure vendor performance and determine whether or not it is profitable to continue working with them.

Vendor evaluation forms provide a structured and unbiased method for identifying vendors' strengths and weaknesses. It also allows you to see how well they are meeting the company's standards and expectations.

Vendor evaluation also enables you to identify areas for improvement and negotiate better pricing or contracts. It allows you to identify potential risks and take proactive steps to prevent them, such as identifying alternate suppliers or implementing backup plans.

What Should Be Included in a Vendor Evaluation Form?

Vendor information- vendor name, address, and contact details

Evaluation criteria- what you’re measuring vendor performance with such as quality, delivery speed, etc.

Rating scale- number or star rating to measure vendor’s performance

Open-ended questions- additional comments to provide context for the evaluator's assessment.

Signatures- Vendor and evaluator signatures.

Need a simpler way to assess vendor performance? Get started with Formplus to access this free vendor evaluation form!