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enumeration factors relevant for the selection of a suppliers

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Enumeration Factors Relevant For The Selection Of A Supplierssana Masagutan Agad Need Ko Na Po class=

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Factors relevant for the selection of a suppliers

1. "Whole Cost of Ownership" is a term used to describe the total cost of ownership. The price of a component or service does not always imply the entire cost for a medical device company, as strategic sourcing and direct procurement teams understand. Transportation, logistics, and product quality are all elements that might affect the total cost of ownership.

2. "Quality of the Product"

Product quality and total cost of ownership are inextricably linked, therefore it's no wonder that product quality is a crucial element to consider when choosing a supplier. Medical equipment, after all, must comply with standards to ensure their safety and effectiveness.

3. "Supplier Capabilities" is a term used to describe the capabilities of a supplier.

Verifying that a provider can deliver on their promises can save you a lot of time and money in the long run.

Medical device businesses can also expand their collaborations with suppliers to take advantage of the supplier's additional skills and knowledge.

4. “Consistency

Another ideal practice recommended by industry professionals is evaluating a supplier's consistency. Can you rely on the source to consistently give the same results?

5. “Risk”

This is an important issue to consider when selecting a partner, especially with the modifications to ISO 13485 focusing significantly on Risk Management. The necessity of recognizing and minimizing potential risks in supplier engagement is recognized by strategic sourcing and direct procurement professionals.

Relevant laws of suppliers​

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