What is Approved Supplier List (ASL)?

Approved Supplier List Definition

An approved supplier list (ASL) is a compiled list of all the suppliers approved by a company as sources from which to purchase parts or materials. The ASL is usually created by procurement or engineering teams using a variety of criteria such as the functional fit of the product, financial stability, and past performance of the supplier.

What is an Approved Supplier List

FAQs

How do I make an approved supplier list?

Use contracts and accounts payable records to compile a listing of all current suppliers that provide parts/materials. Ask stakeholders to verify and specify the following information for each supplier on the list:

  • Contact information
  • Description of parts/materials provided
  • Overall performance rating
  • Does supplier have access to proprietary product information/protected company data? (Yes/No)
  • Designation of supplier’s role in your operation (i.e., critical, important, or useful)

Once the ASL is created, you should remove suppliers with unacceptable performance ratings and establish an approval process for adding and/or removing suppliers in future revisions.

*Source: https://planergy.com

Why is an approved supplier list important?

An approved supplier list ensures that purchase orders and contracts are limited to those suppliers that meet your company’s establish criteria for supplier selection, evaluation, and re-evaluation.

*Source: https://www.linkedin.com

What is supplier status?

Supplier status provides purchasing and related team members an indication of a supplier’s availability for sourcing/contracts. “Approved,” Not Approved,” and “Pending” are examples of terms used to specify supplier status.

*Source: https://www.linkedin.com

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