Joint Supplier Audits
A joint supplier is a business relationship between two or more firms that provide a service or a product. Each business contributes a certain quantity to the total, and this amount is represented by a line on the joint supply graph. These individual lines then combine to form the overall joint supply curve. The shape of the joint supply curve will vary depending on the nature of the businesses involved. If the businesses are perfect substitutes, the joint supply curve will be linear; if there are differences between the two firms, the joint supply curve will be more complex.
Types of joint supplier
A joint supplier is a business partnership between two companies that supply each other with a common product. In a joint supply, each business supplies a portion of the total quantity needed by the other business. The total quantity is then represented on a graph, with individual lines representing the quantities supplied by each business. The shape of the joint supply curve depends on the nature of the businesses involved. For example, if two businesses are perfect substitutes, the joint supply curve will be linear. However, if the businesses are not perfect substitutes, the curve will be more complex.
Joint supply can also be used to describe products that have multiple by-products. For example, if a farmer produces sheepskin and wool, they may also supply mutton and lamb. This would result in a greater supply of both, and lower prices for the products. In this way, a farmer could profit by selling wool to another farmer.
Another common example of a joint supply is cattle. Cattle produce meat, milk, and wool. In turn, they are used for many other purposes. Cattle are a prime example of a joint supply because they provide multiple outputs. Joint supply is not the same as joint demand, however, which is when two goods work together.
Issues with joint supplier audits
A recent pilot study conducted by BioPhorum and Rx-360 examined issues with joint supplier audits. The project was designed to create synergies for member companies and reduce administrative burden when dealing with shared suppliers. The project’s approach is based on the concept of “an audit for one, an audit for all,” with the goal of minimizing the administrative burden of supplier audits. The pilot study involved eight supplier member sites. After the final audit, the participating sites were surveyed to gather feedback and provide insights into the feasibility of the joint audit process.
Issues with joint supplier audits can arise when the companies involved do not share the same standards and methodologies. For example, a company may not have a common audit methodology, which can be time-consuming and costly. In such a case, the audit report should include timescales for completion and review by the auditors. Additionally, additional audits may be needed to validate the completion of CAPAs.
The joint supplier audit process has several advantages. First of all, it is safer and more efficient. In addition, it allows for faster qualification of new facilities and suppliers. This can be critical to bringing new facilities online as quickly as possible and supporting the availability of new and existing products in the market. Another advantage of joint supplier audits is the ability to improve the efficiency and quality of the pharmaceutical supply chain.