Supplier governance represents a challenge for organizations – even on a small, local scale. This challenge is compounded greatly as more organizations are dealing with hundreds and even thousands of suppliers around the globe. These evolving supply chains have simply outpaced traditional supplier controls.
There are many different supplier control frameworks and methodologies available, covering everything in the supply chain from raw materials to contract manufacturing. Today, to achieve effective supplier control requires a fresh look at the people, processes and technology involved. The new global standard for supplier governance is an agile, multi-faceted model that comprises a disciplined process, optimized key resources, versatile tools and completes stakeholder visibility.
The five best practices described in this article will help business leaders evaluate their supplier quality operations and create a foundation for greater supply chain integrity and improvement.