Supplier evaluation is the process of assessing potential suppliers to determine their ability to meet a company's needs. This evaluation typically involves analyzing factors such as quality, cost, delivery performance, and reliability. Companies often use standardized criteria to ensure a fair comparison among different suppliers. The goal of supplier evaluation is to identify the best partners for a business, which can lead to improved efficiency and reduced risks. By carefully selecting suppliers, companies can enhance their supply chain management and ensure that they receive high-quality materials or services, ultimately contributing to their overall success.