Vendors and buyers benefit from increased visibility and lower costs with Vendor Passport™
London - Lloyd’s Register (LR) today announces a strategic partnership with SupplHi, the leading vendor management digital platform for complex industrial goods and services.
The online SupplHi platform (supplhi.com) currently details 17,000+ vendors from 100+ countries in more than 2,250 categories of critical goods and services, and tracks 4,200+ projects globally. It is used by global buyers every month as a unique point of access to structured, constantly updated vendor information.
This partnership creates new standards of assurance in the buying process for critical supplies. By integrating LR’s proven vendor-assessment services in the innovative Vendor Passport™ solution, SupplHi will continue to reduce the cost of vendor scouting, pre-qualification and qualification processes of buyers by streamlining their processes.
The Vendor Passport™ offers LR-assured assessment of a vendor’s ability to deliver complex goods and services, including a visit to each manufacturing facility. The Vendor Passport™ program provides benefits for both vendors and buyers along the entire supply chain, increasing visibility and confidence, accelerating procurement decisions, and lowering costs.
Massimo Alvaro, Vice President Supply Chain Assurance for LR, commented: “We recognise that buyers want to understand which vendor can supply a specific, compliant product or service – yet they also have to demonstrate how they can reduce assessment costs. Vendors want greater access to a diverse, global network of potential buyers to increase sales. The combination of the SupplHi platform and LR’s vendor assurance services with Vendor Passport™ will give both sides what they are looking for, without duplication of time and investment.”
LR approached SupplHi in order to develop new propositions for its clients – sensing a strong demand for additional vendor intelligence provided by a trusted assurance provider.
“In jointly delivering the Vendor Passport™, we can accelerate the digital innovation of pre-qualification and qualification systems of international buyers, thereby complementing or replacing traditional processes which are more costly and can take a long time,” said Giacomo Franchini, Director of SupplHi. “We found a great fit with LR’s leading position in asset-rich sectors, such as oil and gas, marine and offshore, power generation, and industrial manufacturing.”
The partnership underlines LR’s strategy to become a leader in supporting clients through the digital transformation of their industries, building a portfolio of investments and partnerships to tackle the challenges and opportunities of Industry 4.0.
“This fits extremely well with LR’s innovation focus and our vision of combining human intelligence with data-driven technology,” added Pascal Coudeville, COO LR Manufacturing Inspection Services. “It also proves that we are not afraid of disrupting and innovating traditional processes where it adds value to our customers.”
Source: Press Release