Supplier Identification and Assessment, RFX Management for Auto Components Manufacturer
Challenges
Context
Approach
Results
Challenges
- Product classification and categorizations
- Identifying missing data from 2D and 3D drawings
- Understanding of supplier terms and any alternatives to conventional manufacturing technology
- Supplier In-house capabilities and ethical practices
Context
- Market research on categories’ key players by capability, country and class
- RFI, RFQ floating and management
- Factory visit and assessment of the operational capabilities and Industrial norms conformity
- Price negotiation for selected suppliers to identify potential savings.
Approach
- Create a Data base of suppliers across globe and information to conduct fundamental and advanced assessment Supplier interview, supplier form floating for data collection and analysis of capabilities
- RFQ floating for design understanding and price collection for each part under the scope
- Synthesis of data for overall assessment and benchmarking for supplier panel comparison
- Engage in data-driven negotiations with supplies for savings
- Factory audit for assessment and confirmation of capability and industrial norm practiced and improvement advisory for selective suppliers.
Results
- Improvements to pricing with MOQ constraints
- Up to 8% savings improvised during negotiation
- Better inventory and stock management
- Supplier rationalization and reallocation opportunities
- Reverse engineering and VAVE opportunities identified.
- Updated technology for manufacturing high quality products reducing rejections.
