IndiaMART > HR Consulting & Advisory > Human Resource Management > Vendor Management Service

Supplier Audit Vendor Service

Get Latest Price
Service Mode Online and Offline
Feature Quality Assurance
Location Pan India
Service Type Supplier Audit Vendor Service

With each passing day, the global economy sinks further into recession

Contact SellerAsk for best deal
Get Latest PriceRequest a quote

NQAC International

Thane, Maharashtra
GST- 27AGWPA2615D2ZL
View Mobile Number 67% Response Rate
Call +91-8048981755
67% Response Rate
Verified Supplier
Service Provider
Company Video
Contact Supplier

Product Specification

Service Mode Online and Offline
Feature Quality Assurance
Location Pan India
Service Type Supplier Audit Vendor Service

Product Description

With each passing day, the global economy sinks further into recession as the contagion which started in the lending market spreads into mainstream sectors.  Newspaper headlines are littered with examples of businesses in every industry from automotive dealerships to fast food franchises which are at risk of insolvency due to credit challenges.

Unfortunately, supplier failures related to financial distress are becoming all too common even for the largest of companies.  It might seem obvious, particularly in today’s macroeconomic climate, to evaluate the financial strength of one’s supplier community.  However, historically supplier financial evaluation has not been a priority for most large buying organizations such as retailers and manufacturers.  Instead, supplier selection is typically led by the sourcing or procurement organization of a company.  Sourcing teams focus on product-specific factors such as price, quality and performance to specifications.  Vendor evaluations may also include the evaluation of sustainability policies or audits to ensure compliance with child labor laws.  Inputs for the RFPs sent to suppliers are typically generated from a cross-functional team consisting of product management (or merchandising), supply chain management and transportation management personnel.  There is surprisingly little due diligence done on a supplier’s financial health in sourcing processes.  Historically, finance functions have historically been viewed as more tactical than strategic in the supply chain.  Finance is engaged for individual order transactions to negotiate letters of credit, process inbound invoices and originate supplier payments, but not in supplier selection processes.

Guidelines for Supplier Selection

It is important that effective processes for selecting suppliers be in place.

Typically, the selection process starts with the development of a complete specification and ends with the best suppliers being selected to provide the necessary requirements so that the organization receives the value it is paying for.

When organizations do not demand the best and are willing to accept mediocre or slightly above average supplier performance, the supplier base will not be challenged to improve, thus reducing their overall competitiveness.

To know one’s supplier’s financial position, sourcing organizations should team with their finance groups to conduct diligence on each vendor’s profile.  Questions asked might include:

What is the debt position of the supplier?  What constitutes a breach of covenants that could impair supply chain activities?

What are the cash flow cycles of the supplier?  How significantly are they impacted by one’s payment terms?

What are the other customers of the vendor?  What percentage of their revenue is tied to the largest customer(s)?


Interested in this service?Get Latest Price from the seller
Contact Seller

Product Image

Supplier Audit Vendor Service

About the Company

Year of Establishment2009
Legal Status of FirmIndividual - Proprietor
Nature of BusinessService Provider
Number of EmployeesUpto 10 People
Annual TurnoverRs. 50 Lakh - 1 Crore
IndiaMART Member SinceDec 2014
GST27AGWPA2615D2ZL

National Quality Assessment & Certification provide independent third party inspection, verification, testing, assessment & training services for Quality, Food Safety, Environmental, Health & Safety, Risk Management, & Automotive management systems to national and international standards, including ISO 9001, ISO 14001, ISO 22000, HACCP, ISO 27001, ISO 45001 series of standards.

The company serves the customers through on-site and off-site modes of service delivery systems. We offer a full range of certification services geared towards helping all types of organizations to achieve competitiveness, certifications and compliance to international standards and regulations.

We work with a motto of value addition in the existing management system of the organization and identify areas where organization could improve effectiveness in their operation to improve efficiency, reduce non-productive efforts and could improve their marketability.

Company Video

Send your enquiry to this supplier
I agree to the terms and privacy policy

Seller Contact Details

Sandeep Arora

A/104, 1st Floor, Vinay Heights, Kanakiya Roads Near Gaurav City, Mira Road
Thane - 401107, Maharashtra, India

View Mobile No.
Call +91-8048981755
Send SMS
Send Email
Save time! Get Best Deal
Tell us what you
need
Receive seller
details
Seal the deal
Pay with IndiaMART
Save time! Get Best Deal
I agree to the terms and privacy policy
X
Hi
I agree to the terms and privacy policy
Verifying...
1

Have a requirement?
Get Best Price

Hi
I agree to the terms and privacy policy
Verifying...
1

Have a requirement?
Get Best Price