Supply Chain Frauds and 3 Ways to Fix it
Business runs on the Complex Networks of Business Operations, Resources and resource Partner networks, the opportunities for fraud, waste, and abuse have multiplied. Companies have to look into their system to scrutinize as well as fix the gaps identified.
In an article published by, David Landsman, Marcus Puschke, Lilliana Grbic, and Stephanie Overby the Supply Chain Frauds were assessed, based on that,
Supply chain fraud – Most common can be listed as follows:
- Falsified labor
- Inflated bills or expense accounts
- Bribery and corruption
- Phantom vendor accounts or invoices
- Bid rigging
- Grey markets (counterfeit or knockoff products)
- Failure to meet specifications (resulting in substandard or dangerous goods)
- Unauthorized disbursements
The below infographic details, how companies can address with 3 steps approach.
Detailed Q&A can be Read Here: