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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 vendor’s 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.
(Ref.:
https://doctors.practo.com/best-practices-medical-vendor-management/
http://www.fda.gov/downloads/aboutfda/centersoffices/
officeofmedicalproductsandtobacco/cdrh/cdrhreports/ucm277323.pdf).
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