Have you ever been unable to decide on a product or service because of many different criteria? For example, you need to choose between supplier A and supplier B, and you want to know which one is best for you, considering not only the price but also the payment terms, warranty, etc.
I want to share with you the spreadsheet template, which will help with that.
The file is easy to understand and consists of three steps:
Define your criteria and the subject of the assessments
Assess which criteria are most important to you.
Assessment of subjects
Following all 3 steps will give you the final answer which product or service to choose.
Bear in mind that, for example, Step 2 may require evaluation by a broader committee.
Explanation of the file
Step 1 - Sheet "Define Criteria"
Add your criteria from cell C5 to C19. You can add maximum 15 criteria.
In column F (F5-F9) write down product name or vendor/service name.
Step 2 - Sheet "Rank Criteria"
All you have to do here is evaluate if criteria from the left-hand side are more, less, or equally important as criteria from the top.
2 - means criteria is more important
1 - is equally important
0 - is less important
In the above example:
Criteria PRICE is more important for me than PAYMENT TERM - so I put 2 in cell E5.
Criteria PAYMENT TERM is equally important to QUALITY - so I put 1 in cell F6.
Criteria INCOME TERMS is less important than WARRANTY - so I put 0 in cell H8.
Don't change anything in gray marked cells - there are formulas.
You only add/change in yellow cells.
Step 3 - Sheet "Assessment"
Provide a number between 1 and 6 for each criterion and each subject. Where 1 is the worst and 6 is the best score.
The price I received from the US supplier was the highest, so I put 1. The lowest cost was from China, so I put 6.
Here we have Chart and 2 small tables. The table at the top shows the results. If you want to see only 2 or 3 suppliers on the chart, remove the x from the lower table.
There are 3 internal links to move between the tabs.
If you want to use it:
MS Excel downloads the files.
Google Sheets, click the link, and then in the top left corner, in the menu bar, click FILE -> MAKE A COPY.
Let me know what you think. Also, don't forget to contact me if you would like to adjust something in the templates.