Intertek, a leading Total Quality Assurance provider to industries worldwide announces the launch of Intertek RiskAware, an innovative and proactive data-driven approach to risk-based inspection that helps global equipment purchasing customers minimize the total cost of quality by using data analytics to focus on the higher impact quality and safety risks in their supply chain.
Equipment purchasing customers want inspection programs to be more efficient and cost-effective, and they recognize the importance of Intertek’s extensive data relating to the performance of global oil & gas CAPEX equipment vendors/suppliers. By using this data to proactively pinpoint areas for increased focus while reducing spend on lower risk areas, Intertek helps customers make informed inspection decisions which optimize their cost of quality.
As a global leader in vendor surveillance for many years, Intertek has accumulated a wealth of information and insights from its highly experienced inspectors, who have undertaken over 1.5 million vendor inspection visits. This data is utilized to enhance and provide increased risk mitigation in key supply chain areas such as equipment criticality ratings and vendor risk assessments. The history of non-conformance report rates, equipment defect reasons, delivery overruns, and other observations made by our inspectors during vendor inspection visits can be summarized to highlight areas that warrant more or less attention. Focus areas could include equipment types, supplier locations, component sub-suppliers, countries, and other factors in today’s complex web of supply chains.
Intertek’s RiskAware analytics solution has proven to be a vital component when planning more efficient and effective quality assurance and quality control activities that address the areas of higher risk which helps reduce the cost of quality. In other words, the cost of ensuring quality through real-time analytics and aggregated data is less than the cost of project delays, fabrication rework, equipment and operational failure.