Companies do not exist in a vacuum. Whether they are a product or service provider, all companies are a part of one or more supply chains that create and deliver value to an end user. For example, an oil company needs valves and a series of other goods and services in order to produce oil, refine it and transport the final products to a series of clients. In order to do that, every business must develop a list of suppliers capable of providing the necessary input, with proper quality and in a timely manner. An AML (Approved Manufacturer List) is a compilation of trusted companies that provide this service. Small businesses may have arrived at a specific AML list by trial and error but as a company grows, it will eventually create a more formal process for evaluating suppliers and monitoring their performance. An AML has to be frequently reviewed in order to ensure that the original capabilities that allowed the supplier to be included in it remain satisfactory. Companies should refrain from adopting the restricted view that supplier evaluation is just about checking boxes. Reviewing suppliers opens a world of new possibilities, such as cooperation in the development of technologies.
To read the full Valve World Americas April 2020 tech talk, please contact Brittani Schroeder (b.schroeder@kci-world.com) for the full PDF.