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Inventory Management

#13 Implement “Certified” suppliers

Using a supplier assessment process to vet and approve suppliers will help your business shorten the time to find a reliable partner for making one-time purchases or starting long-term relationships. This approach will guarantee cost effectiveness and high quality of the products supplied as well as environmental sustainability and occupational health and safety compliance on behalf of your vendors or simply having their corporate social responsibility policy aligned with your company values.  An ISO 9000 certificate is a good starting point to identify a potential supplier with consistent quality service requiring less inspection and testing and perhaps an opportunity for running commercial operations at low risk.

Zvezda Drencheva

 

Source: BMS Associates - Ben Schlussel, 2017

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