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Vendor assessments and audits

Be confident that you are choosing the right supplier.

Understand how your supply chain operates and the standards they work to with LR's vendor audits.

Overview

Whether it is signing a contract with a new provider or planning a project with an existing supplier, getting that upfront assurance that you are working with the right company is vital. Vendor audits also known as supplier audits allow you to gather important information about a suppliers’ capabilities, machinery, and management systems and help you decide whether they are a company that you want as part of your supply chain.   

What we do.

We've developed a simple approach to vendor assessments and audits that makes the process as efficient as possible.

Our vendor assessments comprise a set of questions specific to your particular sector. These criteria audit threats to the following vendor processes:

  • The vendor organization
  • Quality management system
  • Product inspections
  • Equipment required for inspections
  • Procurement
  • In-process inspections
  • Workmanship
  • Corrective actions
  • Capability to deliver

 

We also have extensive experience running vendor risk assessments through our audits of vendors around the world. Our SMART inspection vendor assessment/audit scheme gives you the ability to assess vendors against leading practice. This also allows the vendors to identify their weaknesses. This minimizes risk and reduces your uncertainty, which improves reliability, safety, and overall business performance across your supply chain.

Need help with vendor assurance?

Our vendor audits are tailored specifically for your sector and organisation and look at threats to supplier processes such as quality management systems, product inspections, the capability to deliver, procurement, and corrective actions.

We know that one size does not fit all. That’s why we deliver bespoke vendor audits designed for your organisation. From initial discussions through to on-site visits, our vendor audits give you the ability to assess suppliers against leading practice either on-site or remotely.

 

Have a question? Need a quote? Need to request an inspection?

INSIGHTS

What we think

LR's experts regularly share their research and insights.

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