Supply Chain Controls

How well do you know your supply chain?  A supply chain is only strong as its weakest link. When it comes to controlling your suppliers, the better you are at understanding the entire chain and identifying weak links, the better your company will be in the long run.
 
The recently released API Spec Q1 9th Edition – Addendum 2 focuses on supply chain controls, specifically relating to multi-tier suppliers. As you are aware, Q1 has always required us to manage our supply chain.  However, the revised requirements expand the controls to include associated (tier 2 & 3 level) suppliers that are essential for product realization.
 
To that end, in today’s post we will focus on a couple of tips to improve the effectiveness of your supply chain controls.

• Understand the big picture. Gather performance data on each supplier in the chain and update it constantly.  If your data only includes some vendors or incomplete performance data, the picture of your supply chain is as incomplete as a jigsaw puzzle missing half the pieces. Without concrete data, you may have an idea of potential snags but ultimately you are guessing.  As a result, you're not able to make the best decisions on how to resolve issues that could impact operations.

 

• Use integrated technology to manage your supply chain.  Technology enables more efficient and effective data collection and analysis, giving you increased response time to head off potential problems.  In addition, by using integrated technology you can improve communications with relevant stakeholders resulting in minimized disruptions to production.
  

An efficient supply chain control program enables your company to reduce costs, minimize risk and satisfy customer expectations.  For more information on how Accupoint Software can help your organization to improve your supply chain control program, please contact us today.