Product Vendor Risk Matrix
Manufacturers and retailers alike struggle to find ways to produce products at a lower defect rate, while improving efficiency, demonstrating a reasonable testing program (RTP) is in place, and reducing quality costs.
- How do I define / identify and measure risk?
- How do I demonstrate due-diligence that a RTP is established in accordance with new government requirements?
- How do I better use my quality resources?
- How do I leverage historical information of product recalls, injury, and fatality?
- What is my risk from using one vendor as opposed to another?
- How do I avoid negative media attention?
Adding Pain to Existing Pressures
Adding to the challenges, manufacturers and retailers experience additional setbacks including:
- Limited resources due to increased competitive marketplace
- Need to balance quality and business cost
- Matching product innovation, complexity and quality
- Continued growth of off-shore sourcing
- Need to increase speed-to-market
- New regulations and global requirements
- Increased private label among retail business
No industry tool or platform has been able to logically cover a multitude of risk factors...until now! Intertek offers a virtual tool that logically assesses business risk associated with product safety, regulatory, economic, country, manufacturer, and brand to better allocate resources for mitigating risk.
This exclusive tool identifies, prioritizes and mitigates product risk, vendor risk, and economic risk in order to effectively allocate resources where you need it, when you need it the most.
Request more information to see how Intertek can help your organization with Product Vendor Risk Matrix.