Article | October 11, 2007

Best-In-Class Vendor Compliance By Kevin Harris, Compliance Networks, LLC

Source: Compliance Networks
Contact The Supplier

Granted, the carrot can be more effective than the stick, but neither compares to the crystal ball

Many areas affect the flow of merchandise from supplier to store floor, but all of them fit into either of two spheres of influence – internal or external stakeholders. Internal stakeholders include merchants, planners, allocation and distribution, while external stakeholders include carriers, vendors, and other third-party logistics providers.

Best-in-class compliance programs that influence external stakeholders to support an organization's internal merchandising plan are built according to the following requirements.

The retail enterprise compass check:

  • Define the retail enterprise's goals
  • Define the commensurate supply chain objectives
  • Define the expectations these objectives imply for supply chain stakeholders
  • Define rules necessary for ensuring supply chain compliance with these objectives.

 Submitted by Compliance Networks