{"id":3503,"date":"2025-03-10T10:09:23","date_gmt":"2025-03-10T09:09:23","guid":{"rendered":"https:\/\/enthec.com\/?p=3503"},"modified":"2025-03-10T10:09:23","modified_gmt":"2025-03-10T09:09:23","slug":"keys-to-supplier-evaluation-how-to-manage-third-parties-in-your-company","status":"publish","type":"post","link":"https:\/\/enthec.com\/en\/keys-to-supplier-evaluation-how-to-manage-third-parties-in-your-company\/","title":{"rendered":"Keys to Supplier Evaluation: How to Manage Third Parties in Your Company"},"content":{"rendered":"
Having reliable suppliers is key to ensuring business success. Whether you work with technology service providers, logistics, or any other area, their performance directly influences the quality of your product or service. In addition, it is also essential to assess the cybersecurity risks associated with third parties within the supplier assessment.<\/strong> <\/p>\n If you want to ensure that your company works with the best third parties, you need a solid method to select, control, and, very importantly, manage the risks they may pose<\/strong>. With Kartos, you can obtain an accurate risk assessment from potential third parties and assess the maturity of your cybersecurity strategy, all to protect your organization. <\/p>\n <\/p>\n Supplier evaluation<\/strong> is when a company analyzes and rates the performance of the third parties with which it works.<\/p>\n It’s not just about choosing suppliers but also about regularly reviewing their performance to ensure they meet the quality, cost, and deadline standards you need,<\/strong> among other things. However, we must not forget that effective supplier management is not complete without a cybersecurity analysis since each supplier is a possible entry point for external threats. <\/p>\n If a supplier doesn’t meet expectations, it can lead to delays, increase costs, or even affect your company’s reputation. Therefore, a good evaluation system helps to:<\/strong> <\/p>\n Now that we know why it’s important let’s examine how you can implement this process in your company.<\/p>\n <\/p>\n Not all suppliers are the same or have the same importance within your business. Therefore, defining supplier evaluation criteria that adapt to your needs <\/strong>is essential. Here are some of the most commonly used: <\/p>\n The first criterion to evaluate is quality. Whether a technology service provider or a parts manufacturer, their quality should match your expectations. <\/strong>To measure it, you can review aspects such as: <\/p>\n A supplier that delivers late can lead to problems in production or the provision of your services. <\/strong>To evaluate this criterion, you can measure, for example, their percentage of on-time deliveries or their ability to respond to emergencies. <\/p>\n Cost is a key factor in any business, but the cheapest provider is not always the best option.<\/strong> Evaluate: <\/p>\n A good supplier not only meets deadlines but also responds when problems arise<\/strong>. To assess this, clear aspects such as customer service should be considered. <\/p>\n More and more companies value that their suppliers are responsible for the environment and society,<\/strong> taking into account the use of sustainable materials, compliance with environmental regulations, or good labor and inclusion practices. <\/p>\n Before starting the business relationship, some key cybersecurity criteria that companies should consider are the maturity of their cybersecurity strategy, threat protection<\/strong>, and cybersecurity solutions<\/a> in the event of security breaches.<\/p>\nWhat is supplier evaluation, and why is it important?<\/h2>\n
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Supplier evaluation criteria<\/h2>\n
1. Quality of the product or service<\/h3>\n
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2. Compliance with deadlines<\/h3>\n
3. Price and payment terms<\/h3>\n
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4. Responsiveness and after-sales service<\/h3>\n
5. Sustainability and social responsibility<\/h3>\n
6. Cybersecurity<\/h3>\n