Elements and Performance Criteria
- Establish contractual arrangements
- Specifications for the delivery of goods and/or services are documented and agreed
- Criteria for selection of suppliers are developed and documented
- Potential suppliers are identified and assessed against selection criteria
- Supply contracts are documented and agreed by the parties
- Contingency plans are developed in the event of supplier failure to deliver
- Administer and evaluate delivery of goods and/or services against agreements
- The quality of goods and services supplied is assessed against specifications
- Non-compliance is identified, documented and corrective action is implemented within the terms of contractual arrangements
- Relationships with suppliers are managed to support effective delivery
- Vendor agreements are reviewed and renegotiated as required to ensure timely delivery and cost-effective supply of quality goods and services