Supply Chain Solutions No.41 – Reducing Procurement Fraud

Supply Chain Solutions No.41 – Reducing Procurement Fraud

Managing the purchase order process through raising, delivery receipt and invoice processing is critical to reducing fraud. Fraud is a supply chain related category that should not be ignored, as reported in the Kroll Global Fraud Report 2013, and has affected 70% of all companies surveyed. Procurement fraud is a key contributor in those companies affected.

Can Buyers Benefit from Trade Finance Factoring?

Can Buyers Benefit from Trade Finance Factoring?

Through factoring, Buyers can gain a credit facility through a factoring organisation like Stenn International where the Seller pays the finance charges of goods exported internationally.

Exporters, Invoice Factoring Delivers Value

Exporters, Invoice Factoring Delivers Value

Factoring or Trade Finance is a mechanism that frees exporters capital delivering a positive cash flow providing value to both Sellers and Buyers of any commodity.

Factoring, why do it?

Factoring, why do it?

In first world countries, credit ratings are transparent, allowing enterprises access to overdrafts, extended credit limits and payment terms or various forms of finance from financial institutions. In developing countries, this is not necessarily the case.

Supply Chain Solutions No.33 – Employee Bribery

Supply Chain Solutions No.33 – Employee Bribery

Organisations engaged in direct and indirect procurement, there is always a chance an employee will engage in some form of inappropriate behavior that is not in the interest to the business.

Supply Chain Solutions No.16 – Social Compliance Vs Commercial Reality

Supply Chain Solutions No.16 – Social Compliance Vs Commercial Reality

Social Compliance is an important reality in assessing and continuous maintenance, to maintaining a vendor matrix which matches today’s global retail brand’s corporate governance mandate. It sets a framework in which the factory environment is safe, minimum standards for basics rights are enforced and maintained.

Supply Chain Solutions No.11 – Are the Suppliers Sample and Development facilities capable of meeting your Product Mix?

Supply Chain Solutions No.11 – Are the Suppliers Sample and Development facilities capable of meeting your Product Mix?

There is a substantial number of small to medium manufacturers that are not geared to handling a high product mix in sampling and development. Understand the supplier’s sampling output per month versus your demand.

Supply Chain Solutions No.8 – Is the Supplier Point of Contact, Right?

Supply Chain Solutions No.8 – Is the Supplier Point of Contact, Right?

There will be a sales person assigned to your account; it is important to understand who this person is managing your business on a daily basis. They will become the backbone of the vendor relationship and key to your projects and future success.

Supply Chain Solution No.3 – Low Cost Country Sourcing

Supply Chain Solution No.3 – Low Cost Country Sourcing

Define a low-cost country sourcing plan that delivers cost reduction and meets quality objectives. Business typically gain a 10-35% cost savings through low-cost country sourcing.

Supply Chain Solutions No.2 – Define the Scope of your Sourcing Project

Supply Chain Solutions No.2 – Define the Scope of your Sourcing Project

Clearly, define the sourcing project scope with clear milestones and objectives. Success driven sourcing activities are projects that need a clear statement of what you and stakeholders want to accomplish.