Our sourcing and procurement process enables qualified suppliers to compete for business opportunities. Supplier selection requires certain levels of evaluation and due diligence. The degree of evaluation and due diligence will depend on the circumstances and the products and services being procured. As such, the criteria that follows may apply to your Company and includes but is not limited to Verizon’s evaluation of a supplier’s financial well-being, technical excellence, value and quality, depth of expertise, reputation, past performance, and capability to meet Verizon’s standards and business objectives.
Financial Stability – It is Verizon's policy that all suppliers must be financially sound and credit-worthy.
Continuous Improvement – Suppliers may be required to fully demonstrate their processes as well as continuous improvement of those processes and/or performance of their products and services.
Established Business – Suppliers must be able to provide a legal company name and should be in business for a minimum of three years. Suppliers must be able to demonstrate revenue for this period.
Federal Taxpayer ID – Suppliers must be able to provide a Federal Taxpayer ID.
Proven Track Record and References – Suppliers may be required to provide references of satisfied past and current customers.
Electronic Data Interchange (EDI) and E-commerce – Suppliers must have EDI and/or E-commerce capabilities for receiving, confirming and invoicing orders. Suppliers should also have bar code technology for inventory and tracking purposes.
Insurance & Bonding Requirements – Suppliers must provide Commercial General Liability Insurance, Commercial Automobile Liability, Workers' Compensation, Employer's Liability and Professional Liability. Additional Umbrella/Excess Liability insurance may also be required. Suppliers must be able to obtain bonding when required.
Background Checks - Supplier must certify to Verizon that it has conducted (or used an agency to conduct) criminal history checking, drug testing, and verification of education, employment history, Social Security number and legal right to work for all employees and contract personnel.
Quality Processes - (TL9000/ISO 9001) Suppliers may need to establish and implement an effective Quality Management System (QMS) with defined processes and operating procedures that measure continuous improvements.
Third-party MWDVBE Certification - If registering as a Minority, Woman or Service, Veteran, Disabled Veteran Business Enterprise (MWDVBE) you must provide certification documentation through a third-party certification organization recognized by Verizon.