Counterparty check | 6 things to pay attention to | Key risks
Before placing order with a new factory, undoubtedly it is worth checking the counterparty to avoid misunderstandings and further surprises.
Ways to check counterparties
It is critical to have a robust supplier evaluation plan for internal and external accountability and continuing the relationships and business. Measuring and evaluating supplier performance is paramount to reducing costs, and improving process efficiency and business performance. It helps preventing product issues and defects after payment and improves the supply chain management in general.