Procurement Leaders Insight Contract Compliance
While you may have spent a lot of time diligently negotiating contracts with suppliers, it is likely someone in your organization will have made a purchase outside of these. Often called maverick spend, it isn’t necessarily done on purpose, or if it is, it could be done in the belief that they are saving the company money. What then can a CPO do to improve compliance.
Trust Your Suppliers, Manage Your Risk: The Importance of Third Party Supplier Visibility
Suppliers are pivotal partners in successful global business strategies, however, you must have confidence in your supply chain to deliver results that will boost your bottom-line. Having little or no visibility into supply chain partners’ business or outsourcing practices ups the risk factor even more.