Are you too dependent on key suppliers?
It makes sense to give your best suppliers a good chunk of your business. But if you rely too heavily on a small number of suppliers, you can really paint yourself into a corner.
Many of peers appear to be doing just that. A new benchmark report from CAPS Research revealed some troubling findings about supplier dependency.
Here’s what the report discovered:
- Only 18% of companies have a formal policy that limits how much business they can give to one supplier, and
- Less than 50% of companies track supplier dependency.
To avoid becoming too dependent on a single supplier, experts suggest that companies draft a policy which limits the amount of business you can give one supplier to around 35%.
Readers, does your company have a limit on how much business you can give a single supplier?
- Share on
Free Training & Resources
White Papers
Provided by UJET
Further Reading
Some emails aren’t meant to be sent. When you work in Finance, you deal with quite a bit of private information. So you must under...
Holding managers and staffers accountable for the work they do is a day-in, day-out job. Leaders in any organization may be tempted to let ...
How did a diversity, equity and inclusion (DEI) program manager defraud Facebook and Nike of more than $5 million? With the help of crooked...
CFO turnover at Fortune 500 and S&P 500 companies is projected to hit 18.3% this year, well above the 16% average of the past decade, a...
Now that you have a feel for what positions at your firm should be hybrid, you might be considering giving employees the ultimate work sche...
In 2022 about a dozen states put law changes – some at the constitutional level – directly into the hands of the voters on Elec...
