Robust vendor management solutions and tools enable organizations to maintain all contractors, contracts and reviews in one place, as well as assess risk, manage resources and comply with regulators and auditors. By improving visibility and control of all documents and records related to their multiple suppliers, regulated organizations are more likely to achieve long-term success.
As companies add more suppliers, vendors, parts and services to their businesses, controlling the documentation associated with these external parties and their goods or services becomes increasingly complex. In regulated environments, especially, companies working with external parties must have the right information to understand what supply may adversely affect their product. They must be able to withstand regulatory scrutiny and ensure compliance and product safety. To be compliant, they must have a reliable system for documenting and tracking information related to their third-party providers.
Unfortunately, many regulated companies are at a loss as to how to best manage suppliers, vendors, contractors, parts and services.
Implementing vendor management tools like MasterControl’s enables regulated companies to not only document all important aspects of the parts, materials and services their suppliers provide, but also improve the overall quality of their third-party relationships, which in turn helps increase their long-term success.
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MasterControl Supplier enables to manufacturers to seamlessly connect and monitor databases of third-party products and services, approved vendor lists (AVLs), quality metrics and other relevant information — all within a centrally accessible repository.
Here’s how MasterControl Supplier helps companies ensure their vendor lists and supplier documentation are properly managed, efficiently tracked and easily accessible.
|Common Challenges||MasterControl Solutions|
The process of maintaining and controlling an AVL is complex and often error-prone, particularly when supplier quality information is kept in separate systems or tracked manually using spreadsheets.
|Centralized, Connected System:
With MasterControl, all supplier status and quality information is contained in a single, centralized location. MasterControl Supplier makes it easy to maintain AVLs and access all records and documentation related to each supplier.
|Complications with New Parts and Manufacturers:
To be placed on the AVL, a supplier must be monitored continuously and must meet a number of qualifications, such as supplier surveys, audits and process validation.
|Automated Tracking of Supplier Information:
MasterControl automatically tracks and stores supplier information derived from audits, non-conformance reports, supplier deviations and CAPAs. This electronically managed information can then be easily compiled for supplier quality ratings.
|Adding and Tracking Approved Parts and Suppliers:
As new parts and suppliers are added and as suppliers’ approval statuses change, accurate and up-to-date tracking of parts and suppliers becomes more complex and challenging.
|Easy Adding and Tracking of Parts and Suppliers:
Goods or services can be added to the “approved to supply” list using bidirectional links with suppliers in MasterControl. MasterControl automatically checks approval status, and the link is enabled and displayed only if it links to an approved supplier.
|Duplication of Supplier Qualification Efforts
In organizations with geographically dispersed divisions, the difficulty of centralizing supplier qualification activities often results in multiple divisions qualifying the same supplier, wasting resources and effort.
|Ready Access to Supplier Data:
MasterControl’s Web-based platform makes accessing supplier data easy while still securely maintaining it. Geographically dispersed divisions are able to share supplier qualification data with others in the organization, minimizing potential for costly duplication of effort.
As a vendor management software system, MasterControl Supplier enables regulated companies to monitor AVLs with ease and simplify supplier-oriented processes. To learn more about how MasterControl Supplier can help ensure that your vendor lists and supplier documentation are properly maintained, contact a MasterControl representative.