Vendor Management for Oil & Gas

One of the challenges of the Purchasing department is to foster and develop Vendors who can consistently deliver quality solutions. One way to develop Vendors is to implement vendor performance assessments that are objective, relevant, measurable and traceable. Without measurements and evaluations, improvement cannot be carried out optimally.

In companies engaged in mining and oil and gas, the performance of suppliers is very necessary to be measured to achieve optimal company performance. The number of suppliers involved in the work of to deliver oil and gas projects makes supplier assessment of utmost importance.

The key to deliver quality projects, is to team up with suppliers who become project partners and to keep maintaining high quality and performance. The selection of the right supplier is one of the keys to success in the process of procuring goods.

Supplier selection criteria are not only focused on the lowest cost, but also on several other criteria that support the achievement of procurement objectives. In the view of the modern procurement system processes, suppliers are seen as partners who participate in achieving company goals. The task of the procurement department is to conduct supplier performance assessments objectively and comprehensively by considering all relevant criteria.

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