Volume : 3, Issue : 5, May - 2014
Vendor Management–How Do You Score Your Vendors?
Dr. D. R. Chaithanya, Dr. Satya Sidhartha Panda
Abstract :
As the growing popularity of just in time and supply chain management, the supplier seems to be more significant role for manufacturing to achieve their customer satisfaction in terms of quality, delivery and business point of view. The smooth running of production line could be interrupted by the poor quality of material. The schedule to delivery will be affected by both poor quality of material and poor delivery performance. Also the manufacturing will get less profit if they select the non reasonable price of material, as of the material is the cost of manufacturers. In order to achieve the Quality Manufacturing Excellence (QME), the Vendor Management System (VMS) is the one most important factor of success. The vendor/ supplier is the partnership that concerned to manufacturer not only the quality but also other business issues. As Vendor Partnership Relation (VPR), it is necessary to work closely between manufacturer and supplier as a team working such as training a supplier’s staff about quality techniques, including a design review meeting to gain ideas on how supplier parts can best be used, providing sale projections/ forecasts with supplier to support their production scheduling, sharing information of accept/ reject criteria for manufacturer and supplier, etc. Such this VPR, it leads to establish the Vendor Management Team (VMT) at Manufacturer to assess, work, and coordinate with the vendor partnership at a first stage of production. The supplier performance has a significant effect on the competitiveness in implementation Just–In–Time and entire supply chain. In this paper, proposed the strategies in managing vendor called Vendor Management System (VMS), its benefits and how do you source a best vendor.
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Download PDF Journal DOI : 10.15373/2249555XCite This Article:
Dr. D. R. Chaithanya, Dr. Satya Sidhartha Panda / Vendor Management How Do You Score Your Vendors? / Global Journal For Research Analysis, Vol:3, Issue:5 May 2014