Why you Need First Assessment Audit for your Business
There are various means to drive business growth by assessing the risks of your purchase and enhance the quality of work of your suppliers. First Assessment Audit is the cornerstone of creating a well-planned inspection service for your products. How? Let’s learn more.
What is a First Assessment Audit
First Assessment Audit or FAA is a preliminary inspection service conducted before ordering the products from the new supplier. This is an important process to ensure the suppliers deliver high-quality products.
Importance of FAA
- Market study: First things first, the inspection company will conduct a market study to assess the feasibility of the project. Based on the report they will go ahead with monitoring process of your future suppliers.
- Bridge the gap: The production process might be hampered due to a lot of reasons. Many times the suppliers and the client company lack coordination in exchanging their business requirements. FAA ensures both the parties work on the same page to accomplish their business goal efficiently.
- Enhance the performance of the suppliers: The inspection professionals visit the supplier’s site and evaluate the pros and cons of the quality of their performance. Based on this they prepare a full monitoring audit report to help you understand the suppliers better. This is important to avoid poorly performing suppliers or take control of the supplier’s performance per the business requirement of the clients.
- Help you make better sourcing decisions: Choosing the right sourcing agent is a matter of concern especially for small and mid-sized enterprises. The inspection companies introduce you with the sourcing agents per your limited budget and resources.
- Negotiation: Sometimes even if the suppliers are suitable for your company, some companies can’t afford to go ahead with them due to budgetary constraints. If that is a matter of concern for you then you can rest assured that the Asian inspection company you hire will negotiate with the suppliers who give you the value for money.
- Quality assessment of the production site to produce a first-hand report on your factory quality control measures.
- Consolidating a factory snapshot with relevant information including the contact details, official business name and history, ownership, organization blueprint, production line status, production capabilities and resources.
- Monitoring the Human Resources policies and management.
- Vetting the working and accommodation system.
- Sampling checks
- Reviewing all the documents to check the legal validity of the site.
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