What business tool could I use to weight options?

Question

I have different supplier options which I need to analyze. Which table or matrix could I use to make a better decision?

Answer 1

Just use the simple, but effective "Ben Franklin Decision Aid".

Sounds fancy but all it is a sheet of paper divided into three columns.  In the left column list the factors in favor of a particular option.  In the middle column list the factors against the option.  (Note, don't list a pro and a con on the same line.  In the right column enter a plus or minus point value for the factor on that line.  Just add up the point values for each of your options and compare them.

If one option is the clear winner your decision is made.

If two or more options are close review the point values to see if you want to modify them.  Then select the option that you are trying to make the better of the two.  

This scheme was supposedly invented by Ben Franklin who was considered one of the most intelligent men of his time.

Hope this helps

Jerry-the-bookkeeper