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VENDOR SELECTION FORM - iit

VENDOR SELECTION FORM - iit 2026

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The document is a Vendor Selection Form required for requisitions of $25,000 or more, to be submitted to the Purchasing Department. It outlines the purpose of the requisition, necessary documentation for competitive bids, and compliance with IIT Purchasing Policy. The form requires details about the purchase, including vendor quotes and justifications if competitive bids are not gathered.

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Click ‘Get Form’ to open the VENDOR SELECTION FORM - iit in the editor.
Begin by entering the Requisition Number at the top of the form. This is essential for tracking your request.
Select the purpose of your requisition by checking either option A or B, depending on whether you are establishing a new purchase order or just encumbering funds.
Fill in the IIT contract number, signed date, and expiration date if applicable. Ensure that you provide details about the department holding the contract.
Enter your name as the requisitioner along with your department and total amount of order.
If your requisition exceeds $100,000, indicate whether it has been reviewed by IIT General Counsel or if it uses an approved standard form.
List three competitive quotes received from vendors, including their names, quote numbers, dates, and total prices quoted.
Finally, print and sign your name along with the date to affirm compliance with IIT Purchasing Policy before submitting.

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Versions	Form popularity	Fillable & printable
2019	4.2 Satisfied (22 Votes)
2014	4.5 Satisfied (67 Votes)

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How to approach vendor management and selection?

Spend Time Defining Your Business Goals. Develop a List of Prospective Vendors. Determine Vendor Selection Criteria. Screen Vendors Using Criteria Checklist. Develop a Shortlist and Meet With Potential Vendors. Draft Vendor Contracts. Conduct Vendor Due Diligence and Onboard Vendors.

What is the most important thing for vendor selection?

What Are the Most Important Things to You When Selecting a Vendor Price. The goal with price is to get the most value at the lowest possible cost value being the operative word here. Quality. Price means nothing if you end up with an inferior service. Service. Integrity. Alignment. Knowledge. Recommendations.

What are the steps required for vendor selection?

Implement the vendor selection process by updating company policy, preparing a vendor selection criteria checklist, selecting and using an efficient e-Procurement system for managing workflow, using an approved vendor list, identifying requirements in an RFI, RFQ, or RFP, and potential vendors to vet and evaluate, and

What is a vendor selection?

A strategic vendor selection process reduces risk, ensures quality, and strengthens supply chain resilience across both direct and indirect procurement. Using clear evaluation criteria and performance benchmarks helps organizations identify reliable, cost-effective suppliers that align with long-term business goals.

What are the 7 steps of the supplier selection process?

A request for proposal (RFP) award letter is a formal notification to a supplier that they are the vendor of choice for a specific opportunity. You can also use the award letter for any RFx process.

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What do you mean by vendor selection?

What is the Vendor Selection Process? The vendor selection process is a series of procurement steps to determine product or service requirements and match them with vendor capabilities and pricing.

VENDOR SELECTION FORM - iit 2026

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