Blog

 

26

Jul

4 Factors to Consider When Choosing a Technology Solution

Author: Avetta Marketing

Factors to consider _Blog Header

As companies become more sophisticated in their supply chain qualification and management activities, they’re quickly discovering limitations in the information systems they rely on to keep track of supplier information. For example, some qualification and management solutions rely on generic “one-size-fits-all” questionnaires to screen all suppliers. This approach can be problematic because such solutions do not accommodate varying levels of information detail and the diversity of your suppliers.

What are 4 important factors to consider when choosing a technology solution? 

Expertise-driven compliance program implementation 
Avetta employs some of the most experienced veterans of supplier qualification and management representing numerous industries. They can help you meet industry safety standards, support your unique business requirements, and address your risk thresholds, without setting extreme requirements that could alienate a portion of your supply chain. They will also help you to develop and implement a program that aggregates and optimizes the “sea of data” you gather as part of a supplier qualification and management program.

Configurable contractor & supplier screening 
Avetta also provides configurable question sets that can be adapted to your business needs. Your organization can screen suppliers against the specific criteria that are most important to your business. Avetta consultants can help you figure out the best approach for your goals, corporate values, and supplier population. 
Avetta can help you to develop your supply chain qualification and management program in several key program areas:
-  Insurance
-  Health & Safety
-  Risk
-  Employee-level compliance
-  Demographics
-  Financial
-  Security
-  Corporate Social Responsibility

Compliance measurement
Avetta also helps you understand and measure contractor performance, based on criteria you select during program implementation. You can track and assess supplier information from your entire supply chain such as:
-  The demographics of your suppliers and contractors   
-  Contract, project, or site-specific requirements   
-  EMR (Experience Modification Rates)
-  Annual injury/illness statistics
-  Citations and violation histories
-  Safety programs/policies
-  Employee training programs/participation
-  Drug and alcohol policies
-  Supply sourcing
-  Anti-corruption practices
-  Child labor violations and prevention
-  Many others

Defining program parameters 
In addition to providing expert advice on industry standards, Avetta will help you to define your system implementation, including:
-  Types of data elements that should be in your database
-  Benchmark thresholds for each of these elements
-  Regulatory requirements pertinent to your industry
-  Insurance policies and limits
-  Contractual terms and conditions
-  Health and Safety policies 
-  Sustainability best practices

Avetta can be updated or expanded at any time to incorporate new screening assessments, new geographies, new suppliers, or changing regulatory requirements.

Without a configurable technological platform capable of handling vast amounts of data securely and reliably, companies are constrained by a lack of detail to truly measure supply chain compliance. Avetta arms you with critical information to make sound business decisions and mitigate risk throughout your supply chain.

To learn more about finding and implementing the right technology solution for your business, download our Ultimate Supplier Qualification Guide

For more information visit https://www.avetta.com/clients, call 844-633-3801, or email blog@avetta.com