How does unethical behavior affect suppliers?
From the supplier’s perspective, unethical behaviors by the buyer occur as exogenous variables outside the realm of control of the supplier, and may lead the supplier to experience decreased levels of trust in that buyer.
What factors should you consider when choosing a supplier?
There are many factors that a business needs to consider when choosing a supplier:
- Does the supplier offer discounts?
- Does the supplier offer trade credit ?
- Are there any additional charges?
- Can the supplier deliver on time?
- Are the supplier’s prices competitive?
- Is the supplier able to supply the quantity needed?
Why vendor evaluation is important in business?
Vendor evaluation is important as it can reduce supply chain costs and improve the quality and timeliness of the delivery of items to your company. The skill in evaluating vendors is to determine which criteria are important and the weighting that these criteria are given.
Why is vendor management important what are the key issues to consider for managing vendors carefully?
By implementing appropriate vendor management in place, your organization can benefit from a larger selection of vendors, resulting in more choices and ultimately better costs. Your organization can benefit from a bidding war between vendors while ensuring that you get your money’s worth.
What is backdoor buying and selling is it considered an ethical or unethical practice and why?
Backdoor buying and selling is an unethical means to skip the bidding process, and make an under the table agreement that doesn ‘ t always work for the best of the company but ensures a strong relationship between two people from two different companies.
Why are ethics important for procurement professionals?
Procurement professionals who are perfectly familiar with the CIPS code of conduct and its correct standards, and follow such standards at all times can help their organisations to achieve long-term success, being more financially successful, and create and sustain a good reputation.
What does backdoor order mean?
Getting the “backdoor” approach means having a salesperson go around you or above you to make the sale through someone else, even though you are the designated buyer for that specific product/service for your company.
What does backdoor mean in sneakers?
Sole Street Sneakers. Part of the blame has to be put on individual retailers who’ve allowed the practice of “back-dooring.” The phrase refers to stores selling off their stock to individuals before the public has a chance to purchase.
What are unethical practices in procurement?
Unethical practices in building projects procurement hinder economic development and social services. Inflated contract sum, bribery and corruption, shoddy construction and collusion tendering were ranked as the effects of unethical practices.
What are the principles of procurement and supply?
7. Principles of Procurement
- Competitive Supply.
- Value for Money.
How do you perform a vendor evaluation?
7 Tips for Rating and Evaluating Your Suppliers and Vendors
- Establish Performance Indicators.
- Classify Multiple Suppliers and Vendors.
- Devise an Evaluation Method.
- Determine Who’s Calling the Shots.
- Maintain Good Relationships.
- Decide When to Issue a Red Flag.
- Cut Loose Weak Links.