Free Vendor Rating Form Template

Tips For Using the Vendor Rating Form Template

Vendor rating forms allow you to assess the performance of current and potential vendors. It ensures that your vendors meet the organization’s expectations and, as a result, improve the quality of their products and services.

Using a vendor rating form simplifies the vendor rating process. It enables you to gain insights into their vendors' strengths and weaknesses and use this information to make informed decisions about their supplier relationships.

Learn more about vendor rating forms, why you need them, and how to create one with Formplus.

What Is a Vendor Rating Form?

A vendor rating form is a document used to evaluate your vendors’ or suppliers’ performance based on specific criteria. It helps you identify areas where a vendor is performing well and where there is room for improvement.

Vendor rating forms allow you to identify areas where a vendor is doing well and areas where they could improve. For example, it can measure your vendors’ performance using quality, delivery time, customer service, and pricing.

Vendor rating forms also help you compare the performance of different vendors. It helps you identify vendors to continue working with and which vendors to replace or renegotiate contracts with.

What Is the Purpose of Vendor Rating?

• Unbiased Performance Evaluation

A vendor rating system standardizes the evaluation process for all vendors, making it easier to compare their performance without bias. It focuses on evaluating the quality of vendors' products or services using criteria that are important to your company's growth.

• Develop Stronger Relationship With Vendors

Vendor rating also helps you build stronger relationships with your vendors by setting expectations and providing feedback on their performance. This promotes a culture of constant improvement and open communication.

• Increased Customer Satisfaction

It helps you select high-quality vendors who provide reliable, timely, and cost-effective products. This enables you to meet your product goals while also providing customers with better service and products.

How Do You Rate a Vendor?

1. Open the Formplus vendor rating form template.
2. Next, sign in or create a Formplus account.
3. Edit or add new criteria to evaluate the vendor’s performance.
4. Drag and drop a long text box if you’d like evaluators to provide additional comments, suggestions, or feedback about the vendor’s performance.
5. Save the form.
6. Customize the look and feel of the form by changing its theme, color, size, and other branding assets.
7. Choose your preferred settings- notification, submission, autoresponder, privacy, and others.
8. Share the form with the evaluator via email, form link, QR code, or embed on a webpage.
9. Monitor vendor ratings with the responses dashboard.

If you’re the evaluator, simply open the vendor rating form, fill out all fields, and submit the form.

Conclusion

Vendor rating forms help you maintain a high level of quality and performance from suppliers. It also helps you build a stronger relationship with vendors and boosts customer satisfaction with your products.

Need a vendor rating form to help you assess your supplier's strengths and weaknesses? Get started with the Formplus vendor rating form template.