Vendor Fraud: Protecting Supply Chains from Dishonest Suppliers
Vendor fraud poses a significant threat to supply chains, impacting businesses financially, operationally, and reputationally. Protecting against dishonest suppliers requires rigorous vendor screening, clear contractual agreements, ongoing monitoring and audits, supplier diversification, and whistleblower mechanisms. By adopting these strategies, organizations can mitigate the risk of vendor fraud, ensuring the integrity and reliability of their supply chains.