“Your company is the company it keeps.” - Jeff Jarvis
Selecting the right vendors for your business can be one of the most challenging tasks in the world. But once you find the right supplier your business runs smoothly and grows in leaps and bounds. Thus, it is extremely important for you to carry out a supplier verification audit before finalizing the supplier. But first, let’s find out what a supplier verification audit is.
What is Supplier Verification Audit?
Supplier Verification audit is a specially designed audit that checks your potential suppliers against certain internationally recognized standards. The suppliers who pass the supplier audit are vendors who are working according to the highest industry standards. Subsequently, successful supplier audits to ensure that the vendors are able to provide a continuous supply of high-quality materials and services throughout the term of your partnership.
Supplier verification audit also covers all the legal, operational and functional aspects of a vendor. This, in turn, gives you the peace of mind while doing business with these vendors.
Why is Supplier Verification Audit Important?
We are sure you will not want to end up in trouble for hiring a fake vendor or a vendor that was operating illegally?
That is what makes the supplier audits so important. One little mistake and you might end up in huge trouble.
Realizing the importance of supplier audits, Tetra Inspection professionals give you with a clear picture about the status and work-ethics of your intended supplier. Further, here are a few benefits that you will enjoy because of supplier verification audits:
Avoidance of illegal/fake suppliers who might bring your business down.
A surety of working with the vendors who will provide the best quality products/services.
A better idea about the processes and capacity of your supplier to plan your activities accordingly.
It will help you ensure a seamless supply chain with minimal stoppages and satisfied customers.
You can keep an eye on your suppliers’ performance and adjust your production accordingly.
How Supplier Verification Audit is carried out?
A team of highly-trained auditors is selected for the supplier audits. These audits are conducted on the vendor’s site and check their facilities for multiple factors including: