Which step is NOT part of the vendor selection process?

The selection of vendors is a critical process that involves several structured steps to ensure that the best possible choices are made for an organization's needs. Implementing new policies immediately does not align with the vendor selection process, which emphasizes careful planning, assessment, and decision-making rather than hasty actions.

The initial steps in vendor selection include identifying potential vendors for the desired services, which lays the groundwork for further evaluation. Following this, developing a Request for Proposal (RFP) enables the organization to outline its requirements and solicit comprehensive bids from potential vendors. Once proposals are received, evaluating these submissions is crucial to determine which vendor best meets the organization's needs and standards.

By focusing on these phases of vendor selection, organizations can mitigate risks and ensure that they choose partners who align well with their operational goals and requirements. Implementing new policies, however, is a separate action that would typically occur after a vendor has been selected and agreements established, making it an inappropriate step within the vendor selection process itself.