Let me add some Advantages, and I’ll be happy to learn the opposite side, as well.

(Those advantages have been originally placed by NEO in a different forum)
1. Obtaining the best vendor-best value for money spent.
2. Protect the purchasers from charges of bias;from colleagues and suppliers.
3. Rates the entire performance of supplier and not a tunnel vision.
4. Gives continuously updated information on supplier
5. Objectively compare performance of suppliers and cultivate better performance
6. An idea of how much suppliers out perform competitors regarding quality,price,lead time, shipment,service, technical assistance, meeting emergency and ad hoc requirement.
7. Feedback to suppliers to improve performance and recognize and reward outstanding performers
8. Used to allocate business share among number of suppliers
9. Objective decision making to disqualify and black list poor performance supplier.
10.Supplier Benchmarking

Let’s discuss.