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According to Gresham's Law,
Fairness
The quality of being impartial, just, and equitable in decisions, treatments, and interactions among individuals or groups.
Stability
The state of being steadfast and not prone to change, which ensures reliability and predictability in processes or systems.
Weighted Point Evaluation
A method used to evaluate and compare suppliers based on certain criteria, where each criterion has a different level of importance or "weight".
Supplier Evaluation Process
A systematic approach to appraising and scoring suppliers based on their performance, reliability, quality, and capability to meet requirements.
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