Assignment Title: "Vendor Evaluation and Cost Analysis" Objective: To assess the importance of vendor evaluation and cost analysis in procurement for a hospitality establishment. Instructions: Part 1: Vendor Evaluation (2.5\%) Choose a specific product or service that a hospitality business might procure (e.g., fresh produce, linens, cleaning services, etc.). Identify two potential suppliers or vendors for the chosen product or service. You can use real or hypothetical suppliers. Create a simple evaluation matrix with the following criteria (e.g., on a scale of 1 to 5 , where 1 is poor and 5 is excellent): Price competitiveness Product or service quality Delivery reliability Customer service and communication Evaluate and score each vendor based on the criteria above. Justify your scores with a brief explanation for each criterion. Summarize your findings and make a recommendation on which vendor to choose for procurement based on your evaluation. Part 2: Cost Analysis (2.5\%) Calculate the total cost of procuring the chosen product or service from the selected vendor. Include the purchase price, any additional fees (e.g., shipping, handling), and taxes if applicable. Compare the total cost of procurement with the budget allocated for this item in the hospitality establishment. Discuss the implications of the cost analysis. Is the chosen vendor within budget, or does it exceed the budget? How might this impact the overall cost control in the establishment? Submission Gidelines: Submit your assignment in a neatly organized document (e.g., Word or PDF). Clearly label Part 1 and Part 2 of the assignment. Provide clear explanations and justifications for your evaluation and cost analysis. Ensure your assignment is well-structured and free from grammatical errors. Submit individually on Schoology in a Word tile