The finance organization benefits from a strong supply chain because reducing lead-time variability and eliminating unproductive safety stock reduces working capital requirements. The logistics organization is also responsible for communicating expectations to suppliers, such as the notification process if a supply chain failure occurs. They don’t need to be logistics professionals-they just need to understand the importance of landed cost, and its impact on customer service and overall retail profitability. In the retail supply chain, buyers own the relationship with supplier sales agents, and it is their responsibility to convey how poor supplier compliance affects the customer. Greg Holder, CEO and Chairman of the Board, Compliance Networks: The most effective supplier compliance program brings together the retail buyer, supplier sales, the logistics group, and the finance department so all partners are working together to create the best possible customer experience. Q: How can a company’s various departments-such as sales, finance, and logistics-work together to promote supplier compliance? Applying their suggestions to your inbound supply chain can help avoid shipment delays, damaged goods, and legal issues.
Dillards Vendor Compliance Manual how to#
Inbound Logistics asked seven executives at leading third-party logistics and technology providers for advice on how to effectively on-board new vendors, select the performance metrics that offer the most value, handle non-compliance issues, and more. Managing supplier relationships can be tricky, but getting it right can have a huge impact on your business.
Forklifts, Pallets & Materials Handling.
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