What's essential for developing strong supplier relationships?

on Thursday, July 31, 2014

What's essential for developing strong supplier relationships?

Enterprises need to leverage supplier relationship management tools in order to eliminate any logistical mishaps from occurring. 

Demand planning shouldn't go unacknowledged, but developing solid, thorough connections with overseas manufacturers will ensure someone else is taking extra effort to complete product deliveries. Unanticipated shipment problems can arise at any moment, and knowing others are working to mitigate the issue just as hard as you are can be valuable. 

Take a unique approach 

How is such a strong relationship developed? IndustryWeek contributor Dave Blanchard recommended professionals take a risk-oriented approach to the procurement process. Scrutinizing the strengths, weaknesses, capabilities and limitations of potential suppliers is a necessary first step to figuring out whether they'll be willing to help customers in dire times of need. 

Ultimately, manufacturers and other such companies are made up of people. As humans are opinionated beings, professionals have preferences as to which enterprises they would rather do business with. Sometimes, clients can be viewed as simply revenue-builders, not entities who are a pleasure to do business with. 

Essentially, strategic sourcing professionals need to develop empathy with their suppliers. They can do this by following two best practices:

  • Exercise transparency: If a supplier isn't aware of how a customer conducts business on a daily basis, it's going to make it that much more difficult to identify what needs to be done to deliver optimal service. In addition, whenever an enterprise acknowledges a pressing matter that needs to be satisfied, suppliers will be blindsided by the demand and may become embittered about the relationship.
  • Acknowledge they're human: Even multi-billion dollar corporations have shortcomings. No matter how impeccable a supplier's practices may appear, it has its own faults to account for. If a mistake or miscommunication ever occurs, realize accidents happen. However, this doesn't mean organizations should excuse conduct that's blatantly incompetent. 

What is e-procurement? 

There's no doubting the usefulness of a email, but there are more refined platforms available for enterprises to put to use. Supply and Demand Chain Executive Contributor Bob Cohen acknowledged the concept of connectivity, maintaining that real-time networking can do wonders for procurement operations. 

Establishing supplier relationships through cloud-based, e-procurement platforms has a number of benefits. Both parties can access invoice records, monitor distribution activities, sanction payments, orchestrate inventory management and complete a number of other tasks through such an environment. Best of all, the two organizations are never left in the dark in regard to where shipments are in the event a disaster transpires. 


Latin American countries encounter burgeoning e-commerce market


Latin American countries encounter burgeoning e-commerce market

Recent marketing analysis shows that Latin American countries are poised to encounter growing online shopping trends.

Even merchandising companies based in the United States are weighing the pros and cons of reaching a wider audience. The potential for e-commerce sites such as Amazon appears quite attractive. Not to mention, these companies will have to contend with Latin American enterprises of the same ilk.

Looking good

The Latin Post referenced the "Latin America 500" study conducted by research and analysis business Internet Retailer, which maintained that Latin America is the globe's second fastest-growing online shopping economy. Apparently, the region remains a close second to China.

As for which countries are leading this burgeoning e-commerce market, Brazil ranks in first place due to its high Internet usage. The country itself is becoming known for selling affordable mobile devices, which only amplifies online purchasing activity. Internet Retailer's study identified the most active e-retail economies as:

  • Argentina
  • Bolivia
  • Brazil
  • Chile
  • Colombia
  • El Salvador
  • Mexico
  • Peru
  • Uruguay
  • Venezuela

What are the sales figures?

Before foreign companies consider redirecting their procurement process priorities to accommodate Latin American consumers, it's important for them to determine whether or not setting up shop in the continent will be financially rewarding. Internet Retailer discovered the top 500 merchandisers in Latin America encountered increased sales of 23 percent, cumulatively.

This growth amounted to $17.94 billion in 2013. The rate of e-commerce expansion surpassed activity both in the U.S. and European markets. As for where to invest, approximately 299 of the 500 enterprises surveyed were based in Brazil, which accounted for $11.7 billion in transactions last year.

Fierce competition

Latin American businessmen recognize the stability of this market, and have reaped the benefits of penetrating it. CNBC referenced the success of MercadoLibre, the largest online shopping site in the continent, which is headed by Stanford University graduate Marcos Galperin.

MercadoLibre was originally launched as an auction site in 1999, and eBay acquired 19.5 percent of it in 2001. The news source noted Latin American consumers conduct nearly 2,000 searches per second on the website. Galperin told CNBC that mobile commerce is expected to take MercadoLibre to the next level.

"Twelve percent of our gross merchandise volume comes from mobile phones," said Galperin, as quoted by the source. "It's a huge opportunity, but it's a huge execution challenge in terms of continually writing the software to adapt all of our services to the new formats."

Once this medium is established, marketplaces such as Amazon will likely have a more difficult time permeating into the Latin American e-commerce economy.


Think conflict minerals aren't a part of the procurement process?

on Wednesday, July 30, 2014

Think conflict minerals aren't a part of the procurement process?

It's scary to think that a percentage of consumers may be indirectly funding global conflict by purchasing smartphones and vehicles.

Yet, they're not the ones getting the blame: Companies that fail to employ thorough supplier relationship management tactics are receiving the brunt of the criticism.

At first glance, figuring out whether the tungsten, gold or tantalum they source originates from countries such as the Democratic Republic of Congo appears difficult. Thankfully, there are technologies and services available that allow enterprises to gain a holistic view of the procurement process.

Not up to par

Bloomberg View reported the United States government responded to allegations regarding poor strategic sourcing tactics by implementing a provision in the Dodd-Frank Act, which requires U.S.-regulated production companies to submit analysis reports on their distribution practices.

The first round of conflict mineral investigations was due June 2, but only 6 percent of audited companies satisfied adequate compliance standards. Worst of all, of the nearly 1,000 enterprises that submitted reports pertaining to conflict minerals, 94 percent failed to validate their suppliers' sourcing tactics.

What's the concern? 

Child soldiers, slavery and mass rape are all tactics employed by organizations operating in the Democratic Republic of Congo. Amnesty International noted that the Congolese army and the M23 rebel group (the latter of which is comprised of several sub-factions) have been fighting for control not just of the country, but of natural resources as well.

Both parties are notorious for committing atrocious human rights abuses.

Bloomberg acknowledged a harrowing statistic. Last year, a spend analysis showed that central African mineral exports amounted to $2.1 billion, a large portion of which funded the Congolese military and M23 rebellion. Therefore, smartphone and computer manufacturers may have indirectly funded a grievous conflict.

The options available

In order to prevent the progression of this heinous war, enterprises engaged in global sourcing have two options:

  1. Weigh the pros and cons of outsourcing to procurement specialists capable of connecting the dots between widely distributed suppliers
  2. Install enterprise-wide software that allows organizations to identify patterns and correlate conflict with essential minerals

Software developer GTKonnect announced the release of its conflict metals product, which helps businesses meet compliance standards set by the U.S. and other national authorities. The technology helps companies:

  • Develop "product-chains" that connect suppliers to end products
  • Create analysis reports regarding certain minerals
  • Conduct risk assessments of particular regions

GTKonnect's provision is just one example of how organizations can stop the flow of money being funneled into the DRC.


Corporate cost reduction strategies benefiting global enterprises

on Tuesday, July 29, 2014

Corporate cost reduction strategies benefiting global enterprises

A healthy combination of creative thinking, strategic sourcing and cost-saving tactics has led to greater profit margins for private enterprises.

Although the U.S. economy is recovering at a slow pace, sales reports are growing more positive. At the onset of the 2008 financial crises, revenue was generated by efficiencies, labor cuts and operational shutdowns. Future priorities would suggest that this trend is going to continue.

Back on track?

According to FactSet, 74 enterprises in the Standard & Poor's 500 reported "actual" earnings for Q2 2014, with 73 percent of those companies generating sales above estimates. Essentially, original marketing analysis predictions regarding true revenue have fallen short of specialists' expectations. The source also acknowledged several notable trends:

  • Over the past four quarters, 55.3 percent of S&P 500 members have underestimated mean sales.
  • During the past four years, 57.2 percent of S&P 500 companies, on average, have generated sales above the anticipated mean.
  • In aggregate, S&P 500 companies are ringing sales 1.43 percent above predicted outcomes.

In regard to future trends, it appears consumer confidence and near-shore manufacturing are going to bolster economic activity. Although people are still exercising caution when browsing e-commerce stores, individuals are feeling more financially secure now than they did four years ago.

What's the cause?

Business Insider contributor Sam Ro named corporate cost reduction as the root cause of these positive revenue reports. He cited several instances in which companies took measures to cut operational assets - including labor - in order to turn a profit over the long run.

"We remain focused on cost discipline to offset the negative effects of our gross profit dollar growth," said one such firm, Walgreen's​, in a statement, as quoted by Ro. "We will be accelerating our optimization efforts, taking additional steps to lower our expenses company-wide."

Launching a new benchmarking plan

According to BakeryandSnacks.com, after reporting negative operating revenue, General Mills CFO Don Mulligan announced the implementation of a program that is expected to create $40 million in free tax savings for the next fiscal year. Jerry Smiley, a partner at Strategic Growth Partners, speculated that this approach may involve several cereal plants being shut down and a reduction in the labor force.

However, Smiley acknowledged that an innovative approach to a changing food economy is imperative to the success of General Mills. The problem is, if little creativity is being realized, then the logical step is to eliminate expenditures wherever possible.


Audit satisfaction should be a key concern during the RFP process


Audit satisfaction should be a key concern during the RFP process

Although the RFP process is usually characterized by bidding wars and operational capabilities, those in the pharmaceutical industry need to evaluate a manufacturer's ability to satisfy audits. 

Lackadaisical factory policies can accumulate over time and negatively impact a vaccine producer's ability to deliver quality goods to the market. Contaminated medicine can also result in grievous illnesses that can potentially result in a public relations nightmare. 

Not up to par 

Most importantly, consumer health may be detrimentally affected by poorly formulated vaccines. The biopharmaceutical fabrication process is incredibly delicate, vulnerable to the slightest manufacturing misstep. This is why government organizations regularly conduct audits on facilities focused on medicine creation to ensure all the right practices are being implemented. 

According to The Canadian Press, a recent inspection of a Sainte Foy, Quebec, development center owned by pharmaceutical company GSK - formerly named GlaxoSmithKline - revealed 10 problems cited by Health Canada, a regulatory agency. 

Although none of the issues were considered public health risks, the Canadian authority maintained that the report suggests the facility consistently fails to abide by basic standards. In June, the U.S. Food and Drug Administration sent a warning letter to the GSK-owned factory, referencing concerns of bacterial contamination. 

A public relations nightmare 

In order to satisfy such extensive reviews, pharmaceutical resellers - such as hospitals, care clinics and other organizations - have weighed the pros and cons of outsourcing to private auditors. Conducting thorough inspections of manufacturing facilities before submitting a bid is imperative for enterprises that want to avoid government shutdowns. 

When a biopharmaceutical plant is shut down, entities sourcing from the company that owns the facility are left to scramble in search of other manufacturers, thus having to reinitiate the RFP process all over again. It's a costly, lengthy endeavor that can be avoided altogether by contracting procurement services with thorough knowledge of government standards. 

Improving measurements 

On the other end of the spectrum, it's also important for public authorities to develop sound biopharmaceutical inspection policies so private enterprises can receive business from overseas sources.

According to BioPharma-Reporter, World Health Organization Director Margaret Chan asserted that the China Food and Drug Administration's vaccine development standards have improved considerably since March 2011. 

For those who would assert that regulations hinder production quality, this certainly isn't the case. Chan referenced a Chinese encephalitis vaccine that was "easier to administer" than counterpart medicines on the market. In addition, the solution was cheaper than competing vaccines. 


How can managed IT services satisfy Web development needs?

on Monday, July 28, 2014

How can managed IT services satisfy Web development needs?

Both companies new to and familiar with the business arena recognize that having an updated website is imperative to acquiring market share. 

There are a number of Web developers out in the market, but what perspectives should a managed IT services company bring to the table? Programming skills are one thing, but a solid grasp of concept design and usability must be prevalent. 

What to hire 

Weighing the pros and cons of outsourcing to a Web designer itself isn't too difficult. After all, there are few people within an enterprise who have the expertise necessary to make the project run smoothly, let alone know how to work with HTML or CSS. But what should enterprises be mindful of?

Forbes contributor David Teten recently spoke with Kyle Stalzer, president of development firm Tackk, who maintained that organizations should look for Web development professionals who understand that a creating a good-looking homepage isn't the be-all and end-all. A quality webpage fabrication firm possesses:

  • A team of graphic and website designers that can correlate layout, text and navigation with colors, visuals and fonts
  • Marketing specialists who understand what aspects of a website influence conversion rates and bolster traffic
  • Coders who are aware of cybersecurity needs and can spot faults that are easy to overlook or difficult to identify

Creative Bloq contributor Kyle Fiedler maintained that one of the most important aspects of creating sound website designs is usability. If potential customers find it difficult to find specific information and need a service representative to answer their questions, then the layout needs to be reassessed. 

How to hire 

Vendor resource management providers often conduct thorough research on prospective designers before giving their clients the go-ahead to finalize a contract. There are a number of steps these professionals take to assess a Web developer's capabilities and limitations:

  • Visit previously constructed websites to see how sophisticated and navigable the implementations are
  • Check for online search engine patterns to figure out how difficult or easy it is to find Web pages
  • Speak with previous clients to get a solid idea of past experiences, looking for inconsistencies in satisfaction
  • Discover how transparent developers are, favoring those that create an open line of communication and maintain constant connection with clients
  • Challenge prospects with questions pertaining to situations, deducing how well they'll respond to major and minor disruptions 

Above all, it's imperative that enterprises contract a developer capable of conducting website maintenance over a long period of time. If a designer is willing to create a long-term relationship, it's one that will be there when clients need it most. 


Is Myanmar set to be the next big procurement partner?

on Friday, July 25, 2014

Is Myanmar set to be the next big procurement partner?

Myanmar, a Southeast Asian country formerly known as Burma, remains an attractive prospect as far as the procurement process is concerned.

Although the nation is strategically located by the Indian Ocean and has a climate perfect for agricultural production, global labor concerns are preventing enterprises from integrating Myanmar into strategic sourcing plans. 

A raw materials giant? 

IndustryWeek contributor and ENVIRON Executive Vice President Mark Travers acknowledged the vast amount of natural resources Myanmar has at its disposal, oil and natural gas being among them. The C-level decision-maker referenced a report conducted by the Organisation for Economic Co-operation and Development.

"Myanmar is well positioned to engage a multi-pronged development strategy that draws on agriculture, mining and extraction, manufacturing and services," asserted the OECD, as quoted by Travers. 

What's more, the Asian Development Bank added that the nation's economy could grow from 7 to 8 percent a year for more than a decade. Increasing Chinese labor costs are making Myanmar more attractive to foreign businesses looking to procure cheaply manufactured goods. 

Taking a chance 

In response to lifted U.S. and European Union sanctions, Gap Inc. became the first American retailer to produce apparel in Myanmar, according to Foreign Policy. Gap executives claim that the move will keep its global sourcing operations "flexible and nimble." 

However, there are two risks the apparel brand is taking by setting up shop in the fledgling nation. For one thing, only 30 percent of the 55 million people living in Myanmar have electricity. Secondly, the country lacks a minimum wage law, which has led some critics to speculate that labor abuses could become prevalent. 

Initial considerations 

First, it's important for organizations prospecting the country to hire a market research analyst to conduct a thorough, predictive inspection of where Myanmar's economy is heading. For example, will the nation be a solid telecommunications partner in ten years? Or will it be better positioned to satisfy the needs of apparel retailers? 

With this in mind, organizations should be prepared to develop strong relationships with budding industries within the nation. In addition to keeping up with changing regulations set by global authorities and burgeoning Myanmar standardization, interested parties must pay attention to the financial mindset of the nation's business leaders. 

Finally, companies should hire procurement services to help them connect with entities already conducting operations within Myanmar. A part of getting familiar with the country is networking with those who have prior experience. 


Union Strike for West Coast Ports Teaches Suppliers and Businesses about Risk Management

on Thursday, July 24, 2014

U.S. businesses and their suppliers are facing a major threat to revenue – a union worker strike at U.S. ports on the west coast. These ports happen to handle 40% of all U.S. container imports. As a result, the Canadian National Railway is seeing a significant bump in their cargo, specifically within U.S.-bound imports. Alternatives like this are effective while precipitating a major change in operations, but redirects to Canada are not a full proof contingency plan. How can suppliers and businesses better manage risk?

One major tactic to offset risk is to consider business interruption insurance. Business interruption insurance offers some protection from unforeseen circumstances. In this case where union workers go on strike, this insurance in theory would grant the supplier and buyer the ability to reassess their logistics without a significant financial loss during the disruption.

Additional protection can be possible through a force majeure clause in contracts. As mentioned in Source One’s all-you-need guide to procurement, Managing Indirect Spend, this clause provides an exemption from liability in the case of extraordinary events, such as war, natural disaster, or even a union strike. For example, in the Summer of 2010 some suppliers affected by the closure of European airports due to the ash from an Icelandic volcano relied on force majeure because they could not supply goods in a timely manner. This was not ideal for buyers, but many were able to terminate the agreement and seek other suppliers to avoid a financial crisis.

Proactively managing risk can also involve establishing manufacturing closer to the U.S. In a practice known as nearshoring, many U.S. companies have been seeing benefits from working with Mexico and other Latin American manufacturers. This option offers lower shipping (by sea and land) and labor costs. Previously, China was a target for a large portion of U.S. outsourcing; however with a drastic shift in wages demanded, intellectual property compromises, and rising fuel and shipping costs, Mexico is becoming a more enticing option.

Although every supply chain is different, there are a great deal of scenarios where proper risk management can lead to cost efficiency and savings in unpredictable scenarios. Through prepping for the unexpected, companies and suppliers that utilize the U.S. west coast ports can secure profits and the public opinion of their brand can be protected.

News courtesy of: http://www.cnbc.com/id/101844372
Photo courtesy of: www.dredingtoday.com

Four strategic sourcing guidelines for public sector IT departments


Four strategic sourcing guidelines for public sector IT departments

It's a rare thing to come across a news story detailing how a government organization is increasing its budget.

Nowadays, authorities are looking to cut costs in a number of ways, one of which involves purchasing software capable of optimizing certain practices. However, spend analysis endeavors hamper the procurement of technology necessary for the public sector to keep up with the pace of enterprises.

So, where do government CIOs start? There are a number of steps these professionals should take in order to acquire the necessary hardware and software to advance operations without exceeding budgets.

1. Keep a sustainable mindset

Eric Gies, a contributor to The Guardian, noted that procuring assets or services that were responsibly manufactured (with regard to environmental and sociological factors) will not only improve a public authority's perception, but also enable the utilization of best-in-class, affordable technology.

For example, say the U.S. Department of Defense contracts a managed IT service provider to create a scalable, secure private cloud environment. Sourcing an environment from a company known for powering its data centers with green energy will help the organization save on what would be exorbitant energy costs in the long run. Not to mention, taxpayers will favor an institution that makes a commitment to reducing its carbon footprint.

2. Search for the lowest risk

News Factor referenced a study conducted by research firm Gartner, which asserted that CIOs and IT asset managers should work together to look for the most secure solutions. Security doesn't only pertain to protecting databases from cybercriminals either, as the study maintained that new software or hardware implementations should be easily manageable.

In other words, procuring advanced software isn't the same as acquiring complicated implementations.

3. Look for flexibility

Gartner also regarded the importance of searching for malleable service-level agreements. The more accommodating an IT services provider can be to a public organization, the greater the return on investment will be. However, that's not to say organizations should get lost in the number of provisions offered - only invest in those applicable to operations.

4. Look for additional financing

Although one branch of the DoD may only have a certain amount of money to allocate for a certain project, procurement process specialists should network with other teams that may benefit from using a specific IT implementation. Sharing information regarding a supplier is the first step to making this process a success. It's important not to push the idea on parties - investment should be seen as an opportunity, not an obligation.


Oil regulations may disrupt fossil fuel procurement process

on Wednesday, July 23, 2014

Oil regulations may disrupt fossil fuel procurement process

While oil companies want to continue to deliver the resource to refineries throughout the United States, government regulators are calling for more stringent safety regulations.

If recent proposals are implemented, procurement services may have to help energy businesses reorganize distribution routes to help flow remain consistent. Despite the fact that it's the middle of the summer, organizations are thinking ahead in anticipation of the upcoming winter. Two seasons ago, U.S. power prices rose as transporters struggled to satisfy demand.

Replacing old equipment

Employing strategic sourcing professionals to recycle old assets and purchase new property is likely to become a common practice. According to The Wall Street Journal, U.S. legislators recently presented a rule that would force transportation enterprises to rotate out tens of thousands of DOT-111 tank cars with upgraded models over the next two years.

The proposed measure is a year shorter than Canada's identical law. The two pieces of legislature apply to containers that carry ethanol, oil and other hazardous liquids. In addition to this mandate, discussions regarding a 40 mph speed limit would be enforced until existing railcars can be updated.

The two rules were developed in light of an accident that occurred in Lac-Mégantic, Quebec, in which 47 people were killed as a result of a derailed train carrying Bakken crude oil from North Dakota.

Switching up tactics

Marketing analysis reports have shown that transporting oil by pipeline is cheaper and safer than delivering the substance by rail. With this in consideration, it's important to regard the costs associated with constructing a feasible, continental pipeline network - some of which are politically motivated:

  • Procuring the property and land necessary to construct the pipelines
  • The materials required to build the infrastructure
  • The skilled labor needed to oversee the operation's completion

It turns out companies are already making the transition. According to NGI's Shale Daily, crude oil rail transportation from North Dakota decreased 59 percent in May. North Dakota Pipeline Authority Director Justin Kringstad stated in a webinar that pipeline traffic increased 41 percent during the same month.

Energy Transfer Partners LP, a company based out of Dallas, proposed the construction of a 30-inch diameter, 1,100-mile pipeline that would transport light sweet crude oil from Bakken to the Gulf Coast. Kringstad noted that the endeavor is still being developed, but remained optimistic about the project.

Drafting and putting the initiative into action may require the logistical expertise of a strategic sourcing company - one capable of predicting the anticipated output of and demand for Bakken oil.


How Well is Your Wellness Program?


As more insurers incorporate fitness and wellness programs into senior health insurance plans, there are several factors to address internally to ensure that these plans run smoothly. With complex plan payment structures and arrangements involving multiple parties, it can be overwhelming for an insurer to assess new strategies while they are trying to promote a new program and ensure its success. This is why Source One serves to assist health insurers in managing their Wellness Programs and driving the most value to members. In realigning structures and tightening controls, Source One works with wellness program providers to reduce costs of healthcare plans, optimize partnerships for a strong, sustainable future, and increase membership levels.

Based on a changing healthcare environment, no insurer is the same; however, Source One is able to assess the current landscape to achieve efficiency and profitability in essential areas for wellness program providers. Learn more about how to strengthen your wellness program’s value in the below Source One infographic.


How strategic sourcing can mitigate pharmaceutical concerns


How strategic sourcing can mitigate pharmaceutical concerns

There are two concerns procurement services have regarding the pharmaceutical supply chain:

  1. That the drugs they sell can be legally distributed in certain countries
  2. That logistics companies are assigning an equal amount of attention to regulations

Being able to connect the dots between medicine manufacturers and pharmacies selling the products is imperative. Organizations such as the U.S. Food and Drug Administration enforce stringent standards regarding the sale of drugs, and failing to comply with these codes can result in grievous consequences for enterprises.

Attention to illicit distribution

According to Supply Chain Digital, logistics company FedEx was recently indicted by the U.S. Justice Department for allegedly transporting drugs sold by illicit online pharmacies. The source noted that authorities had repeatedly warned the distribution giant of several organizations that were not allowed to market goods in the U.S.

"From as early as 2004 the indictment alleges, federal authorities and members of Congress informed FedEx that illegal Internet pharmacies were using its shipping services," said a statement from the Justice Department, as quoted by the source.

As opposed to abiding by these regulations, the government agency asserted that FedEx would deliver packages assembled by illegal shippers to designated locations at which customers could pick up the items. This process not only put FedEx employees at risk, but arguably exposed consumers to potentially dangerous substances.

How does this affect strategic sourcing? Companies that chose FedEx as a primary distributor are now likely to be associated with such activities. Pharmaceutical companies selling authorized, legal drugs may have to comply with investigations to ensure that none of their shipments were harboring illicit substances - a lengthy and expensive process to satisfy.

Holistic oversight

Therefore, it's important for such organizations to conduct research of their own regarding potential distributors. Susan Haigney, a contributor to Pharmaceutical Technology, acknowledged the FDA Safety and Innovation Act, which requires drug enterprises to divulge the contents of controlled substances, as well as how they're manufactured. The Act authorizes the FDA to:

  • Aggregate and scrutinize information from companies to assess the risk of sourcing unfavorable products
  • Share and collaborate with foreign authorities to trace the origins of fabricated pharmaceuticals
  • Conduct domestic and overseas inspections of facilities

A global sourcing strategy that can be easily scrutinized by authorities is essential to have. Not only will it help entities satisfy audits, but it will enable them to identify which distributors are most likely to be involved in unsavory practices.