How to Conduct Full Monitoring Audit on Your Suppliers

How confident are you about your supplier’s market reputation? Are you sure you’re not barking up the wrong tree by joining hands with a poor supplier? To be completely sure about your orders you need to look under the hood and find out more about your suppliers inside out. From checking the factory site to their documentation verification, a Full Monitoring Audit (FMA) is a foolproof solution to all these questions. Here’s how you can conduct an FMA on your suppliers and ensure high-quality orders.

First Assessment Audit

FMA gets started with First Assessment Audit (FAA) which involves building a strategic relationship with your supplier and ensuring all your business requirements are met. This helps you to work closely with your suppliers so that both the parties are on the same page and work towards the common objective together.

It starts by visiting the production site and giving first-hand Quality Control measures to the suppliers. The inspectors also check the validity of the official business name, organizational structure, ownership rights, production line status, license and certificate, and production potential of the supplier. The Human Resource policies, managerial plan of action, and the working environment are also taken into consideration.

Advanced Monitoring Audit Service

This is an enterprise-level audit service which involves all of the evaluation production mentioned in FAA followed by assessing the clientele history, production samples, purchasing practices, storage system, final inspection and testing measures, equipment testing, resource management, continual improvement procedure, Corporate Social Responsibility (CSR), and other necessary industry standards.

ISO 9001 standards check

ISO 9001 is the ultimate quality management system and the FMA inspectors analyze if the suppliers abide by the basic standards or not. This is not only important for you to avoid a poor supplier but also to ensure you make better sourcing decisions in the near future.

The Benefits

• It is an end-to-end supplier evaluation process that generally takes only two days time.
• The suppliers are always kept on their toes due to vigilance practices of FMA. This enables them to provide good quality deliverables on time.
• The monitoring process identifies the potential loopholes right at the onset of production to prevent unnecessary delays, high rejection rates, and cost overruns.
• The third-party audit services firms are great negotiators to make sure you make good sourcing decisions and streamline communication between the suppliers and manufacturers.
• An audit assessment blueprint will help you understand if the suppliers are meeting your specific requirements or not.
• The auditors might provide a Corrective Action Preventive Action (CAPA) plan to ensure you don’t repeat any production malpractices in the future.

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