Organizations are under constant pressure to adapt comprehensive, systematic and formal quantitative assessment methods for vendor selection focusing on long term relationship potential and enhancing the delivery performance of ongoing projects. As government decisions for future project assignments is dependent on the performance of the ongoing projects.However, the process of vendor selection within the supply chains, is left to the uncertain and imprecise judgements of the decision makers & top management. This limits the usage of comprehensive, systematic and formal quantitative assessment methods for identifying a potential vendor for long term collaboration. Therefore, this article aims at understanding the important criterion/attributes for supplier selection using an Industrial case and providing a methodology for identifying a potential vendor for long term partnership.