Vendor Compliance 103: Best In Class Vendor Compliance Program Considerations

By Gregory S. Holder, Compliance Networks

Catch up on Part One and Part Two.

In previous articles we introduced the idea of vendor compliance and how to start a program within your organization.  You can find it here. The latest article discussed how best-in-class programs integrate people, process and technology and introduced ten stages of vendor compliance programs. This article can be found here.

As the concept of vendor compliance goes mainstream, more and more companies are making claims to being vendor compliance ready.  Too many of these companies consider only a single vertical and even retailers who built their programs internally make the same mistakes.  Compliance programs are much more than vendor requirements (often times considered vendor rules), compliance audits and penalties (chargebacks or expense offsets) in the four walls of a DC as some companies claim.  Vendor compliance programs are also much more than using EDI data to produce chargebacks and vendor scorecards as many EDI companies claim. Vendor compliance programs are also much more than post audits used to capture vendor failures months after the fact.

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