Intertek RiskAware: Data Analytics to Minimize the Total Cost of Quality

Supplier inspection programs should be efficient and transparent. By using risk-based data analytics to pin-point risky areas within their inspection program, equipment purchasing companies can optimize their supply chain strategy.

Risks such as component failure, delayed production opportunity costs and project cost escalation due to delays in late arrival equipment, can be mitigated through robust and proactive quality control programs, complemented by vendor surveillance activities and overall supplier assessment and monitoring.  The challenge lies in planning optimized and integrated quality assurance and quality control (QA/QC) activities which can be achieved most effectively by allocating vendor inspection spend to higher-risk areas.

Non-Conformance Reports

Quality Observations

Quality Observations

​Infusing Analytics into the Decision-Making Process

Intertek, a global leader in vendor surveillance, supports a wide range of industries by offering timely and cost-effective technical inspection services with the added value of in-depth local knowledge.

Our technical experts, strategically located in the world’s major industrial centers, have accumulated a wealth of supply chain information and insights during 2 million+ inspection visits in more than 100 countries.  Using our RiskAware platform, we analyze the history of non-conformance report (NCR) rates, defect reasons, inspection and testing results, HSE reports, real-time supplier-related observations, and more.  The results highlight the riskiest areas to focus on and areas that warrant less attention. Focus areas can include equipment types, supplier locations, component sub-suppliers, countries, and other factors.

With Intertek RiskAware’s analytical approach to risk-based and QA/QC inspection data, we help companies minimize their total cost of quality by avoiding costly and disruptive delays, significant rework costs, and non-compliance issues.

Visualizing Quality and Safety Risks

Intertek RiskAware examines our more than 50 million historical data points. It has proven to be a vital component when planning more efficient and effective QA/QC activities that address the areas of higher risk thus reducing the cost of quality. Interactive dashboards show trends in NCRs and HSE assessments, as well as deeper analytics dashboards using categories for “Quality Saves” with designations for critical and non-critical issues.

Our major customers have recognized the highly valuable pro-active insights they can obtain by having access to our detailed supplier data because it extends beyond similar data they already have internally from their own projects. Through our supplier data, they are able to draw from a wider supply chain knowledge base, which, of course, is anonymized to protect the privacy interests and confidentiality of our customer base.

Contact us to learn more about Intertek RiskAware and how we can help you optimize your supply chain strategy.