Our Smart inspection services reduce the inherent risks involved in the vendor selection processes bringing confidence to stakeholders.
To work with our clients and add real value to the vendor selection and control process, we have developed a Smart inspection vendor risk rating and assessment scheme.
Our Smart inspection scheme aim to help our clients evaluate their vendors against leading practice as well as providing vendors themselves with a tool to target their own internal weaknesses, thereby minimising risk and reducing uncertainty and improving reliability, safety and overall business performance.
Smart inspection follows three steps:
1. Assess equipment criticality.
Any risk management approach requires a detailed identification of all equipment hazards, their probability of occurrence and the consequence of the successful completion of the asset, giving a resultant equipment criticality. Equipment consequence modelling takes the following into account then produces a ranking of the equipment in criticality:
- Cost of the equipment
- Design capacity vs. required capacity
- Schedule for equipment delivery and availability of vendors
- Impact of equipment failing in-service
2. Assess vendor risk
The question, ‘Which vendor to choose?’ is a complicated one. To simplify the process, we develop a set of questions for each vendor based on your requirements. The questions are designed to address aspects of the vendor’s capabilities, including its:
- quality management system
- product inspection process
- equipment required for inspections
- procurement process
- in-process inspections
- corrective actions
- capability to deliver
Each area is thoroughly evaluated and rated according to specific criteria. The results are presented in the form of a spider diagram, identifying the vendor’s strengths and weaknesses.
3. Tailored Inspection Test Plans (ITPs)
Once our client chooses vendors based on our Smart inspection results, the next step is to create plans to address the weaknesses discovered in the audit process.
These Inspection Test Plans are custom built to mitigate any possible risks with each vendor. They can be designed to intervene in certain areas of the manufacturing process with appropriate skill sets.
Putting the right people in the right place at the right time can be the key to keeping any major project on time and on budget.
By both buyer and seller understanding the critical elements of the supply chain needed to successfully deliver a single piece of equipment or a whole project, confidence is given to project stakeholders that the equipment or project will be delivered safely to specification, on time and to budget. This can most effectively be achieved by all parties working together to identify and mitigate critical paths and potential weaknesses from the very beginning. Once identified they can be dealt with through selected and focused interventions. A Win – Win for all involved.
What is the value of choosing Lloyd’s Register?
Clients benefit from our technical expertise, knowledge, experience and our independence. With no institutional or private shareholders, we are able to make technical decisions free of commercial and political pressure. Around the world, we work with manufacturers, engineering procurement construction contractors and asset owners to help them operate with confidence and a network reach across 240 offices globally ensures we can meet your local demands no matter where you are located, or the geographical scope of your project.
By choosing Lloyd's Register as your technical expert, you send a clear message to your stakeholders that your business is committed to meeting its social and economic responsibilities, safely. Our teams comprise specialists with an in-depth knowledge and understanding of all the materials, components, equipment, systems, human behaviour and operational complexities involved with manufacturing, including Health, Quality, Safety, Environment (HQSE) and Risk Management. We provide this expertise across the supply chain and it is this insight which can help your business gain increased returns from improved safety, performance and higher production rates.