How to select vendors for film projects

Selecting a vendor is a vital task that a production house will undertake. Here are some steps you can take to make the process simple and effective.

Define and Analyze Production Requirements

Define the product, material or service needed; Along with the Technical and Business requirements and the Vendor Requirements (features the organization is looking for in a vendor), and generate a Requirements Document.

Identify Third-Party Vendor Candidates

You must now compile a list of possible vendors. The team should then send each one a Request for Information (RFI) and conduct an evaluation process.

Develop Evaluation Criteria (with weighting)

The team should develop and construct an evaluation model that weighs a requirement against its value and priority. This helps to discern the differences among vendors.

Conduct Vendor Briefings

Once the team has developed evaluation criteria with weighting and narrowed down possible vendor candidates, You should set up an initial meeting with each potential vendor to discuss stated requirements and ensure a common understanding.

Evaluate Vendors and Schedule Demos

After vendor briefings, Selected vendors should provide a solution overview to the organization’s current business and technological requirements, fees, benefits derived from using a particular vendor, etc. Request a “demo” to showcase the capabilities of their solution. Demos are a great way to evaluate intangible aspects of a vendor.

Complete Vendor Selection

After the evaluation process, your team should select a primary option (the one with the most points according to your evaluation criteria) and an alternative.

Complete Contracting with Vendor

This step includes identifying a clear set of timeframes, deliverables, and budgets for the project with the vendor. These should also be included in the contract.
You should also be clear about all the prerequisites, terms, and conditions of the contract and provide exact information on what goods and/or services the vendor should provide. The vendor’s payment should be stated clearly; the total cost, the payment schedule, and financing terms. There should also be an acknowledgment of Effective dates/Renewal dates/Completion dates/Termination dates.

The ARTHA Approach
Artha provides a catalog of vendors. We help our clients in evaluating and selecting vendors through a filter system based on requirements and convenience. To see how Artha can assist you with your organization’s vendor selection process, contact us at info@artha.app