1. A computer-based method for generating a global process capability factor for a process, said method using at least one processing device and comprising the steps of: a. calculating, with the at least one processing device, statistics for multiple sets of raw data numbers associated with the process, each set having at least “m” raw data numbers; b. generating with the at least one processing device, using a number generating algorithm and the calculated statistics, at least one dataset of “n” data points that are representative of a corresponding at least one set of at least “m” raw data numbers, the “n” data points having a mean equal to the mean of the corresponding set of raw data numbers and a standard deviation equal to the standard deviation of the corresponding set of “m” raw data numbers, where “n” is a predetermined number that is less than “m”, and where “m” may vary for each set of raw data numbers, the “n” data points having a user selected distribution; c. determining a process capability factor for the process with the at least one processing device using a plurality of concatenated sets the at least one set of “n” data points; d. applying the process capability factor to a plurality of suppliers associated with the process; and e. determining, based on the application of the process capability factor, which suppliers have an acceptable risk factor for supplying a product and which suppliers should be eliminated from a list of accepted suppliers for the product.