Risk Management while selecting the Supplier

B

bhavya vee

#1
Hello Everyone,

I want to conduct Risk Assessment while selecting the supplier, I am not sure of what all parameters to be evaluated, kindly give me some example of it.

Thanks in advance:agree:
Bhavya
 
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somashekar

Staff member
Super Moderator
#2
Hello Everyone,

I want to conduct Risk Assessment while selecting the supplier, I am not sure of what all parameters to be evaluated, kindly give me some example of it.

Thanks in advance:agree:
Bhavya
Hi Bhavya.
The gaps that you see between your evaluation and selection criteria and the suppliers response to your criteria are the risks.
Supply chain management must be an other big risk assessment consideration when you talk about suppliers. Supply chain visibility will be your risk mitigation.
Some examples:
Is the supplier a single source ? You are at risk if he is effected due to any reason. Decide when and what you intend to do
Is the supplier getting some critical raw material from say Japan? You are at risk if Japan is hit by an other major quake / tsunami. You may want the supplier to look for an alternate when times are good.
Is your supplier an ISO9001 company ? Yes, still you are at risk of good customer response if his CB seems to be rather an unrecognized one. You may want to audit him as a customer.
an on and on and on ....
I can give you dozens more. But you have to assess your supplier yourself on these risk lines first by having a good evaluation and selection criteria established.
 
B

bhavya vee

#3
Hi Somashekar,

Thank you for your reply, that was very well explained. As of now our company holds very minor portion in manufacturing support, so we have done the Supplier evaluation and kicked off the project, is it so necessary to carry out audit at supplier premise before starting the project?

Regards,
Bhavya
 

somashekar

Staff member
Super Moderator
#4
Hi Somashekar,

Thank you for your reply, that was very well explained. As of now our company holds very minor portion in manufacturing support, so we have done the Supplier evaluation and kicked off the project, is it so necessary to carry out audit at supplier premise before starting the project?

Regards,
Bhavya
Depends on the project importance from that supplier's perspective as well as your audit competency and the scope you want to audit upon. You can decide to audit just his "customer related process" (example) so as to get an indepth understanding about how they deal and manage with customer requirements. If audit is a mitigation for a risk, you can audit need based to that risk factor only.
 
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