With the advent of Corporate Social Responsibility and the strengthening of ethical approaches, supplier sourcing goes well beyond the simple business relationship, deliveries and invoicing. You need to be able to align your supplier line more precisely to define this sourcing as closely in line as possible with your purchasing strategy.
“Profits are made in the buying, not in the selling”, “buy as cheaply as possible and sell at the same price” are now outdated concepts that positioned buyers as contributors to margin only. From now on, and for several years now, supplier sourcing is taking on an ethical, committed, and totally “customer” oriented angle. Especially as these customers are demanding ever greater clarity on their entire production chain, as part of a Responsible Purchasing policy.
It is therefore imperative for purchasing managers to have a full understanding of the production value chain and to identify all the players, at least up to level 3. This can be tricky, especially as the globalisation of production requires knowledge of the existing links between suppliers, from rank 1 to rank 3, especially the guarantee links, which ultimately indicate strong dependence. In addition to these dependency links, by default purchasing managers now require CSR (Corporate Social Responsibility)indicators on their suppliers, whatever their rank, to make their commitment with them reliable.
These checks are all the more necessary as the recent upheavals in raw material prices have led to a real race to source new suppliers, at the risk of not being rigorous in validations. However, it’s necessary to properly check the three pillars of risk, which arecompliance and third party supplier creditworthiness, the financial default risk which can generate a production risk and finally the CSR indicator.
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Get in touch with one of our expert Purchasing advisors to jointly carry out the risk diagnosis on your supplier portfolio, and discover Altares’ responses to your Purchasing compliance issues.
Altares supports its customers in the analysis and segmentation of their supplier panel.
Altares supports its clients in the analysis and segmentation of the French market.
indueD facilitates your due diligence, for an optimised compliance of your business relations portfolio. Integrating the latest compliance regulations and thanks to dynamic data visualisation, indueD makes your compliance issues a reliable, simple and fast process. indueD is aimed at all sectors of activity exposed to compliance issues: banking & insurance, industry, distribution, etc., and more particularly at resource and purchasing departments.
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KYC, KYV, KYB, search for beneficial owners, screening of sanction lists: D&B Onboard helps you to cope with the increasing complexity of compliance obligations (including due diligence).
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The DunTrade member-only payment behaviour analysis platform gives you an exclusive view of the Paydex, an index of your third party’s payment behaviour, allowing you to:
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