B2.3.2

B2.3.2   AdministrationàFinancial ManagementàVendor management system

Rating
A	Not Demonstrated	No proper vendor selection and procurement process There are no or almost negligible signs of a proper vendor selection and procurement process, no records of quotations, purchase orders, etc., no performance evaluation.
B	Developing	Vendor selection process not properly structured There are some signs of a vendor selection process, but it needs a lot of improvement. E.g. there are some criteria and procedures for vendor selection and procurement but not clearly defined and documented. Need for a structured process with standard procedures, and defined, delegated and monitored responsibilities.
C	Proficient	Structured vendor selection process with standardized procedures and clearly defined, delegated and monitored responsibilities There are clear indications of a vendor selection and management process, with standardized procedures and clearly defined, delegated and monitored responsibilities, but can be further improved. Need for proper monitoring and evaluation of vendor services, maintenance of all records for further reference, and efforts towards continuous improvement in the process through periodic collaborative reviews.
D	Accomplished	Structured and effective vendor management process, periodic collaborative reviews for continuous improvement There are clearly defined and strictly-followed responsibilities and procedures for the selection of vendors, and there are good procurement practices. (e.g. Quotation, negotiation, purchase orders). Vendor services are well monitored and evaluated from time to time, records kept for further reference .Efforts to ensure the effectiveness of the vendor management process through periodic internal and external evaluation followed by revisions.
E	Distinguished	Highly advanced, exemplary/demonstrable vendor selection and evaluation/monitoring process Vendor selection process is highly advanced, vendor services  are reviewed and revised as and when required, procurement procedures include competitive buying practices, proper value analysis and negotiation methods. Demonstrated continuous improvement in vendor management process through periodic internal and external evaluation followed by revisions. Successful efforts to showcase the highly advanced vendor management system to other schools.