For a ‘small’ supplier, risk could prove to be a catalyst towards unlocking ‘big’ business prospects. Having a healthy respect for the value that risk can add to your organisation will undoubtedly change how you approach it, prepare for it and deal with it. By putting the necessary controls, checks and balances in place […]
Risk: small supplier business threat or value-adding opportunity? Read More »
A total of 59 per cent of South African respondents to the PricewaterhouseCoopers (PwC) Global Economic Crime Survey indicated that they had experienced procurement fraud, compared with the global figure of 29 per cent. PwC director Louis Strydom described as “mind-boggling” the loss South Africa suffered owing to economic crime. Of the 134 surveyed
SA procurement fraud double global average – survey Read More »
By not benchmarking the prices and services you receive from suppliers and the way you use those goods and services removes valuable insight into what other organisations are achieving in the market and increases unknown risks, says Alan Low of Purchasing Index (PI), in this month’s SmartProcurement. “Benchmarking is the process of identifying and
Failing to compare prices and services guarantees squandered expenditure Read More »
A strong, expert contracting and contracts management group is essential to combat fraud, CIPS Fellow and UK procurement consultant Colin Cram told delegates at Smart Procurement World in September. Download an event summary here Failing to use a strong contract management team that understands your various contracts and has the time and resources to
Fraud after contract award 6 times as frequent as fraud pre-contract award Read More »
Whilst the word “risk” is fast becoming a cliché, it has increasingly important connotations for organisations owing to the plethora of legislation both here and internationally aimed at preventing fraud and corruption, says Alan Low of Purchasing Index (PI) in this month’s SmartProcurement. Local legislation includes: • Prevention of Organised Crime Act (POCA) –
Non-compliance with fraud and corruption prevention legislation a major risk Read More »
There is something between Shakespeare and the Indian silver screen. For decades, Shakespeare’s works have inspired directors to churn out some of the most memorable hits on the big screen. The perennial favourite theme is based on one of his earliest plays, The Comedy of Errors. The play depicts the story of two sets
Comedy of errors with supplier visibility Read More »
Clients share one major concern when they consider a procurement card programme: “Will we not expose the company to card fraud and abuse?” Fraud and abuse are a reality in business and procurement card controls, such as expenditure limits and only from specific suppliers, can help prevent card fraud. However, a procurement card does
Can credit cards limit procurement fraud-risk? Surprising answers… Read More »
We all have suppliers – some organisations have just a few, making supplier management quite easy, where others have thousands to keep track of. However, even when using a regimented supplier management system, how well can you know your supplier? Judy Bonnier, corporate governance, risk and compliance solutions specialist and Business Development Manager at
How well do you know your suppliers? Better than they know you? Read More »
By ignoring reverse logistics – the returns and proper disposal of obsolete products – organisations are not only indirectly damaging the environment, but their corporate reputations. Furthermore, most South African companies fail to take advantage of the potential that exists to make millions of Rands from recycling electronic waste (defined as anything that runs
Electronic waste – making green from going green Read More »
Supply chains are highly sophisticated and vital to the competitiveness of many organisations. However, their interlinked, global nature also makes them increasingly susceptible to a range of risks. Deloitte surveyed 600 executives at manufacturing and retail companies to understand their perceptions of the influences and causes of these risks; the actions they are taking
Manufacturing and retails’ view of the growing challenge of supply chain risk Read More »
