Did You Know ?




Industry News
Global Trends
Events Calendar
Web Links

Web Gallery

Advertising  Info


About Best Practices to Ensure

Good Supplier Management


Companies that manage their suppliers well, do so through a number of best practices. They carefully select and contract with their suppliers, often with deep involvement from the internal quality organization, and they identify vendors that deal with the most critical aspects of their product and invest heavily in training and monitoring them. Finally, they are highly disciplined about cutting off even preferred suppliers once it is clear that quality performance has dropped. They also recognize that resources for supplier management often do not reduce with improved quality, unlike in manufacturing, for example.


Communication with vendors has to be purely professional and confidential. Vendors should be allowed to place their suggestions in front of top bosses in a well managed forum. The vendorís suggestion is the most valuable piece of advice, as regards consumer satisfaction. In case a product is not achieving good sales, suggestion from vendors can be used to rectify the mistakes.


A close watch needs to be kept on the performance of vendors. The contract signed should ensure good profit margin to the company as well as the vendors. The company and vendors can help each other by advertising in television media or via brochures, by sharing the costs. On monthly basis, vendors should be encouraged to have open discussions with vendors selling similar products. This will promote exchange of ideas, sharing of needs of consumers, different approaches and strategies to maximise sales.


In addition, multiple interviewees suggested establishing an industry certification and shared auditing program for suppliers to drive quality and standardization.




*  *  *  *  *


Order Now!

Biomedical Technology Tips & Techniques

A Valuable Insight For Medical Device Industry, Biomedical Engineers & Doctors

Biomedical Technology Tips & Techniques

Price : Rs. 500/- (CD Rom)
Price : Rs. 350/- (PDF File)

Order Now!



Back | Back To Top