"You only find out who is swimming naked when the tide goes out."
–Warren Buffet
In a perfect world, you have great and honest relationships with your suppliers. They win because you keep coming back. You win because you get great service at competitive prices. But this is not a condition you want to leave to chance.
As with any part of your business, you want to have a program in place to ensure your bottom line is as healthy as it can be. Forming a team, training your employees, and reviewing your vendors and procurement program are sound steps for keeping it that way. But when you find you don't have a great relationship with suppliers, and they are squeezing you through dishonest, anti-competitive activity, you have an important decision to make.
Putting off a supply chain assessment can cost your company dearly.
Download our paper, Eradicating Anticompetitive Schemes in Your Supply Chain, for insights into assessing the integrity of your supply chain, uncovering anticompetitive behavior, what to do when you do, and the potential role of litigation. We also share some lessons from the public and private sectors.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.