5 Supplier Management Best Practices

With the increased pressures of cost control for manufacturers of regulated products and the rapid expansion of globalization of the supply chain, the expectations of manufacturers and sponsors to control activities and materials provided by their suppliers has been magnified. Regulatory agencies and industry expectations are focusing on supplier management through risk-based quality controls and open communication between the procuring organization and supplier. In this article, Benjamin Frey holds that supplier management is best defined through a Supplier Quality Management Lifecycle Model and recommends five steps for developing and managing this program.