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Vendor Management Governance
Developing Vendor Competence
Prestariang has established the Strategic Partnership Program to continuously assess and monitor vendors' performance in meeting the Company's quality and standards criteria. This includes the appointment of strategic vendors, assessing vendors' systems, operations and deliverables of goods and services which are supplied.
Through this program, we can better evaluate the supply chain quality and management systems, procedures and compliance and accuracy of documentation.
To maintain a robust working relationship, we encourage our vendors to develop new capabilities to improve their core competencies via regular communication with them for a two-way improvement between both parties. The benefits of developing strong capabilities within our program will result in:
better control of time, cost, quality for any given project or program;
better identifying opportunities for cost savings;
implementing operational improvements; and
more effective and efficient review of deliverables and/or service levels.