Part I of a 3 part series | 30 min short-form webinar
Ensuring integrity throughout your supply chain is complex and requires planning, tools and expert resources to provide transparency without slowing your business down. In part, we will explore how organisations can use proper expectation setting to reduce the effort of oversight through effective partnerships with suppliers.
Reasons why suppliers create integrity risk:
- Lack of awareness - build through communication and training
- Lack of resources - demonstrate economic viability
- Lack of shared values - identify and weed out
Building common values by setting expectations - generally, people want to do the right thing:
- Train internal stakeholders - make sure everyone in your firm working with suppliers understands your values, can identify integrity issues and has a mechanism to report concerns.
- Promote your programme - publish and promote company values and what you are doing to ensure them throughout the supply chain.
- Tell your suppliers - "push" your expectations in your Supplier Code of Conduct, integrate values discussion with quarterly/annual business reviews with suppliers.
- Use the Power of Purchase - purchase decisions should be dependent on shared values.
Jump to Part II: "Trust but Verify" - Explore the tools and techniques for ensuring active oversight of suppliers.