Supplier Evaluation Criteria
Including, But Not Limited To:
CIGNA seeks suppliers who support our strategic goals and objectives while continually looking for ways to manage our costs. CIGNA Corporate Services evaluates suppliers with regard to best value with a particular emphasis on quality, total cost, delivery, innovation and management expertise to meet CIGNA's requirements. Suppliers are evaluated on their ability to meet the following criteria:
SUPPLIER COMPETENCE
Compliance to Specifications
- Meets specification requirements
- Meets standards
Customer Service
- Policy and practice
- Surveys customers
- Systems to measure customer satisfaction
- Backup and advice
Quality System for Deliverables
- Certification
- Documented system
Capability
- Staffing structure
- Availability of experienced staff
- Experience in the industry
- State of technology
Past Performance
- Experience in the industry
- Previous experience
- Customer recommendation
Strategic
Innovation
- Leading technology
- Creativity
SUPPLIER ANALYSIS
Financial Viability
- Satisfies key financial ratios for the industry
Risk and Insurance
- Adequate insurance
- Allocate and acceptance of risk
LEGAL REVIEW
Compliance to CIGNA Contract Terms
- Complies to the terms and conditions
Conflict of Interest
Legal Proceedings
- Legal proceedings related to contractual issues - past or present
FINANCIAL
Total Cost of Ownership/Best Value
- Bid price
- Ability to propose an innovative financial approach (gain-sharing, etc.)
- Freight
- Warranty
- Price breaks and quantity discounts
- Satisfies best value analysis
- Maintenance costs
Financial Review
- Tax
- Accounting
- Lease vs. Buy
- Foreign exchange
- Payment terms
- Business justification
- Insurance
- Net present value analysis
- Payment methods (i.e. EDI, etc.)
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