Vendor management is imminent in a variety of global markets like pharmaceuticals and raw materials to name a few. RemediumOne being a clinical trial management organization is not exempted from implementing an effective vendor management program to ensure smooth sailing services to our valued clients. It also does not exclude us from being subjected to vendor assessments by our clients. In fact vendor management is crucial for any organization to survive in today’s global markets.
In order to fully understand a vendor management system we need to understand the basics. So, who is a vendor? The most basic definition of a vendor is quote, ‘a person or a company offering something for sale.’ This could apply to anything from scientific instruments to research data.
Once a vendor has been selected to provide a particular service or product, it doesn’t end there. A company usually keeps assessing its vendors continuously, at pre-defined timelines, not only to ensure the receipt of good service, but also to ensure continuous improvement of the vendor.
The vendor management process sometimes seems lengthy when looking at it from the outside and one must wonder: what is the basis behind vendor qualification and re-assessment? A very common risk with any vendor is that they tend to get a little too comfortable when they have worked for an organization for a long time and their services become more laid back or sometimes even diminish all together. To avoid this, and to ensure continued good service, vendor qualifications are of utmost importance.
Clinical trial industry is an industry where vendor qualifications are taken extremely seriously. When you are a part of the process of developing life changing medicine, you do indeed take your vendors seriously. RemediumOne has undergone many vendor qualifications and have made many improvements because of them. This also helps us to build a relationship based on trust and confidence with our clients.
A vendor qualification process brings about many advantages to the vendor. It is an opportunity for continuous improvement, where a vendor company gets assessed by an external stakeholder. For a vendor this is an opportunity to learn what their clients expect of them, what they could do better and also identify good practices that should be harnessed and encouraged. Vendor qualification processes and re-qualification processes are an integral part of a company’s continuous improvement.
Written By: Sadiya Badurdeen