One of our leading practices to consider for your accounts payable process is to develop strategic business alliances with suppliers and involve them in developing better ways to process accounts payable.
Total quality management requires commitment and persistence. Quality will always have a cost, but many companies are demonstrating that investments in quality always provide returns. Cost-of-quality reporting essentially views costs of quality as "good" costs and "poor" costs. The "good" costs are those incurred by the company in delivering customer satisfaction. The "poor" costs arise from:
Outsourcing has become a keystone of major business operations to the point that it’s almost a given that large companies will move certain expensive business processes and labor-intensive activities to a third-party. Is this always the best option?
An affiliation is often referred to as a person, organization or establishment associated with another as a subordinate, subsidiary or member. An affiliation can be a social or business relationship and is essentially the act of being formally connected or joined. Examples of affiliations in the business environment include sourcing partners, vendor relationships and alliances.
Topics: KL Tools, inventory and materials management, purchasing & accounts payable, supply chain, risk assessment, outsourcing/co-sourcing/shared services, performance management/measurement, vendor management
What Is Channel Effectiveness Risk?
Channel effectiveness risk is the risk that poorly performing or positioned supply chains or distribution channels may threaten a firm's capacity to effectively and efficiently interact with suppliers and inhibits the ability to access current and potential customers and end users.
This extensive list of questions can be asked during an interview for an inventory audit.
Earlier this year, Protiviti published the 2015 Vendor Risk Management survey, which illuminated the fact that organizations seem to have gained a better understanding of vendor risk in the last couple of years, and many organizations are making concerted efforts to more accurately assess their vendor risk management programs.
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