Managing Vendor Qualification, Performance & Contract Compliance

 

The decisions where to purchase components, raw materials, manufacturing and testing equipment, and even consulting services, need to be well informed and documented through a vendor qualification process. The results of making poor purchasing decisions can lead to situations that impact product quality, regulatory compliance, company profits, and even the reputation of the company.

 

Suppliers and vendors play a key role in the company's success. Having a formalized system in place to track and evaluate supplier and vendor performance is essential to the smooth operation and profitability of the company. 

 

Successful companies embrace their suppliers and vendors, viewing them as partners in helping to grow the business; therefore we have to ensure we use the right processes and criteria to select our suppliers.

 

The training course will explain best practices for building a sustainable vendor qualification process. It will also adopt a systematic approach to demonstrate the optimal methods in enhancing vendor performance and ensure contract compliance.