I have witnessed literally millions of euros of wasted by OEMs by qualifying the wrong suppliers for their niche services.
There is so much time and effort spent, from initial engagement through to enquiry and on into qualification, to get on the approved supplier lists. This can take 3 to 18 months depending on the customer’s process and dedicated resources. In the meantime, opportunities are missed out on, which is a shame for both customer and supplier. Eventually when the supplier is approved the urgent need or requirement may have changed or the supplier may have fulfilled their capacity with existing or new customers.
To truly handle this, I believe you need a technical business excellence manager and a quality control auditor to access a supplier for suitability and value creation.
At Dynamic Innovations we research hundreds of suppliers to audit a few and end up with the right supplier with the right attributes to fulfil a customer’s “needs and wants” technically and commercially with the right amount of communication for business flow.
It takes a combination of skills to audit a company’s financials, technical capabilities, capacity to expand, quality systems, supply chain, logistics, overall management and culture, to trust as a supply partner. An absence of any of these qualities will affect the business transaction to some degree.
Contact us if you need a new supplier for parts and/or assemblies for sophisticated equipment.
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