Supplier assessment is the process of evaluating potential or existing suppliers to determine their ability to meet specific requirements. This evaluation often includes analyzing factors such as quality, reliability, financial stability, and compliance with regulations. The goal is to ensure that suppliers can deliver products or services that align with a company's standards and objectives. The assessment may involve various methods, including site visits, audits, and performance reviews. By conducting a thorough supplier assessment, companies can mitigate risks, improve supply chain efficiency, and foster strong relationships with suppliers, ultimately leading to better business outcomes.