By Gregory S. Holder, Compliance Networks
As discussed in previous articles, retailers have used vendor compliance programs since the 1980’s to reduce supply chain variability, normalize receiving operations and highlight areas of opportunity in all aspects of the retail supply chain. Even now, after more than thirty years of vendor compliance programs, many retailers still consider vendor compliance programs to be about shipping and logistical compliance. And for retailers without a program or have an immature program, they accept these supply chain problems as the cost of doing business and constantly throw labor at the problems whether they realize it or not. It is has a negative impact on expenses, it increases the total order cycle time and results in lost sales opportunities. This does not have to be the case. Leading retailers are leveraging technology and consultants to ensure their vendor compliance programs are strategically focused and that data from the program can be used to intelligently drive business for both retailer and vendor. And the best thing about it? The return on investment (ROI) is being measured in days not years.
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