Reverse Supply Chain and Vendor Management
What is Reverse Supply Chain?
Traditionally, supply chain concentrates on the effective movement of products from manufacturer to consumer. However, in today’s competitive marketplace it is becoming equally as important to concentrate on the movement required to retrieve a used product from the consumer to either dispose of, or reuse it. Companies are being forced to review and improve their reverse supply chain due to consumer demand and industry regulations. A company may choose to put these processes in place as a means to reduce operating costs by reusing products or components of a product. For example, an automotive company may choose to implement a recycling program for car parts in attempt to recover value from the used parts.
Strict environmental regulations on the return and disposal of products is often a challenge many business face as part of the reverse supply chain process. Companies are required to follow strict standards in the transportation, handling and disposal of products. Though stringent, adhering to these strict standards allows companies to achieve a more sustainable business model. In today’s marketplace, consumers place heavy emphasis on businesses moving towards a low waste and environmentally sustainable business model.
As each company is unique, so is the approach to reverse supply chain. This strategy is not a one size fits all model. Each model must be tailored to meet the companies individuals needs, including the specifics required to implement the reuse or disposal of the product. Consultants with expertise in the area of reverse supply chain can be an invaluable asset in the creation of such a model.
Benefits of an Effective Reverse Supply Chain Strategies
- Compliance with industry regulations
- Responsiveness to consumer demands leading to higher consumer satisfaction
- Increased productivity
- Reduction in operating costs
- Sustainable business model
- Closes the loop and synchronizes supply chain
How GlenView Group Can Help
GlenView Group consultants are highly qualified in helping companies develop and implement effective reserve supply chain strategies. Our consultants can help you navigate and overcome regulatory challenges that may arise as part of this implementation.
For more information on Reverse Supply Chain Consulting contact the consultants at GlenView Group.
What is a Vendor Management Program?
Similarly to the Reverse Supply Chain Management, companies may be working under regulations that would allow for them to benefit from the implementation of a vendor management program. Vendor management programs work as a method for managing a company’s vendors and third party providers. Managing vendors and third parties enables companies to control costs, decrease associated risks and drive consumer service. Monitoring and accessing risks associated with vendors is a requirement and especially important when companies are seeking ISO Certifications such as ISO 9001:2015, AS 9100 Rev. D, ISO 13485:2016, ISO 27001:2013 and R2.
Vendor management programs are a proactive step that allows for a single contact to own the vendor management. This creates a central point of contact for consistent storing and monitoring of vendor related information and contracts. This monitoring is equally as important before entering into a contact with a vendor as it is throughout the lifetime of the partnership.
Benefits of a Vendor Management Program
- Central point of contact for vendor information and contracts
- Consistent and effective review of vendor contracts
- Improved consumer service
- Increased cost savings
- Decreased risk associated with vendors and third parties
- Satisfies requirements of various ISO standards
How GlenView Group Can Help
At GlenView Group, our team of consultants can help you implement a simple yet rigours vendor management program. For more information on vendor management programs, contact the consultants at GlenView Group.
