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Better Information Processes: Peace of Mind for Procurement Execs

Charles Morrison, managing director of NQC, writes for Procurement Leaders on how to eliminate fraud in the supply chain and gain peace of mind. He acknowledges from the outset that it is a big undertaking to stop fraud, because supplier networks are international and becoming increasingly complex. But he points to the Elliot Review’s report on the food supply chain as a good start, in that its focus on food fraud “calls for the creation of a dedicated food crime unit with a zero tolerance approach to anything deemed to be criminal activity.”

A major problem in supply chains is lack of visibility and transparency, caused by the aforementioned levels of complexity. McDonald’s is celebrated for trust and transparency in its supply chain, but its supply chain is actually “relatively small compared to other retailers.” It is beyond Tier 2 suppliers where the problems start to occur. One of the things that the Elliot Review report stresses is the need to explore more mechanisms for intelligence gathering and information sharing. Platforms are needed that can centralize compliance metrics, KPIs, risk indicators, and other key organizational information. For more details, you can read Morrison’s full article here: http://www.procurementleaders.com/blog/my-blog–guest-blog/2014/10/09/better-supply-chain-information-processes-ensure-peace-of-mind-for-procurement-execs

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