When making a business purchase you are often faced with making a decision between multiple options. To make an impartial decision that is best for the business you may wish to use the following decision process. The C.O.W.S. method is a decision matrix process that stands for Criteria, Options, Weighs, and Scores. These are the elements to develop a decision matrix to help in purchasing decisions.
C - Criteria
Develop a list of criteria in order of importance.
O - Options
Identify a list of purchase options or alternatives.
W - Weighs
Weigh each criterion by assigning a number based on importance.
S - Scores
Assign a score or rating based on a scale of the criteria.
Delivery should be a criterion to consider in your decision process. Delivery fees are often hidden in the price of goods, or separate expenses based on volume, distance, and weight. Delivery fees impact your business expenses. Waiting for a scheduled delivery of needed items can also impact expenses through lost sales.
Purchasing Decision Form PDF
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