The agent conducts thorough market research to identify potential suppliers, analyzing their offerings, capabilities, reputation, and market presence.

The agent assesses potential suppliers based on predefined criteria, such as financial stability, product quality, production capacity, and adherence to industry standards.

The agent maintains an updated and organized database of potential and approved suppliers for easy reference.

The agent issues RFIs and RFPs to shortlisted suppliers, seeking information on their capabilities, pricing, and terms.

The agent evaluates responses from suppliers, comparing their offerings, pricing, and terms to determine the best fit for the organization’s needs.

When necessary, the agent conducts site visits to supplier facilities to assess production processes, quality control measures, and overall capabilities.

The agent negotiates terms and conditions with selected suppliers, ensuring that agreements align with the organization’s requirements.

The agent conducts risk assessments to identify potential risks associated with engaging specific suppliers.

The agent may actively seek out and engage with suppliers that promote diversity, such as minority-owned or women-owned businesses.

The agent verifies that potential suppliers comply with relevant laws, regulations, and industry standards.

The agent conducts cost analysis to ensure that supplier pricing aligns with the organization’s budget and cost-saving goals.

Once a supplier is selected, the agent facilitates the onboarding process, ensuring that all necessary documentation and agreements are in place.