If you are interested in becoming a Wachovia supplier, simply complete our Supplier Registration form. When you register, your company is added to our Global Supply Chain/Supplier Diversity Supplier Database. The Supplier Database is used to identify potential suppliers who may be invited to participate in Wachovia's sourcing/bid selection process. Browse the topics below to learn more.
Cost is always a major factor in making a best-value decision, however, value creation and satisfying functional, technical, and other requirements, including those listed below, are our primary and most critical considerations. When selecting suppliers, we look for:
Continued and measured value creation throughout the business relationship
Creative and innovative solutions, and efficient service
Industry reputation and experience
Demonstrated quality program
Commitment to confidentiality
Adherence to privacy and established security standards
Complete the Supplier Registration Form and email any brochures or marketing material to sourcing.now@wachovia.com after submitting the completed form.
Your application and promotional material will be entered in our supplier database.
When a sourcing event is initiated that your company could potentially fit, your supplier application will be given consideration for the current and/or future opportunity.
You may wish to follow-up occasionally to find out about upcoming opportunities, or let us know if you have additional products or services to offer. Refer to the Contact Us section for information on how to reach us.
Supplier Evaluation and Selection
Supplier relationships are established through a fair and competitive selection process managed by Wachovia’s Global Supply Chain, in partnership with Wachovia’s Supplier Diversity Group. This process is designed to ensure optimum quality, service, and value for Wachovia, its customers, and suppliers.
These are the selection process steps Wachovia uses to establish supplier relationships:
Phase I: Opportunity Assessment
Wachovia identifies a business need
Wachovia develops the requirements definition
Wachovia performs a market analysis
Wachovia determines sourcing strategy
Phase II: Solicitation/Preliminary Evaluation of Supplier Proposals
Wachovia develops the supplier list
Wachovia develops a RFx (Request for Proposal, Request for Quotation or Bid)
Wachovia issues RFx, including Wachovia's standard contract terms, to invited suppliers
Supplier prepares and submits proposal in compliance with Wachovia contract terms
Wachovia receives and evaluates supplier proposals
Wachovia develops short list
Phase III: Selection and Award
Wachovia performs due diligence and preliminary negotiation (this may include supplier presentation and/or visit to supplier's site)
Wachovia finalizes and documents negotiated business and legal terms (contract)
Wachovia conducts internal recommendation and review
Wachovia approves final contract transaction and submits to supplier for acceptance
Wachovia and supplier execute mutually agreed upon contract document, and award is made