{"id":3116,"date":"2011-09-19T18:18:00","date_gmt":"2011-09-19T18:18:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2011\/09\/19\/will-you-have-an-early-warning-that-your-supplier-is-going-bye-bye\/"},"modified":"2021-07-06T07:24:27","modified_gmt":"2021-07-06T11:24:27","slug":"will-you-have-an-early-warning-that-your","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/","title":{"rendered":"Will You Have An Early Warning That Your Supplier Is Going Bye-Bye?"},"content":{"rendered":"<p>I hope that you have enjoyed the article \u201cHow To Spot a Poorly Managed Supplier.\u201d<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>Life works in strange ways when odd coincidences happen. I had the above-linked article queued up for a few months, yet just today, one of our SPSM alumni contacted me asking for some guidance about a situation he was experiencing with an apparently troubled supplier.<\/p>\n<p>It seems like our SPSM had his finger on the pulse on a supplier who was showing some signs of financial distress, yet had some challenges convincing his company\u2019s senior management that trouble was a-brewin\u2019. With this supplier being privately-held, he didn\u2019t have much objective data to reference in making his case. Then, his supplier turned his company over to a factoring agency (a collection agency that tries to collect pennies-on-the-dollar for immediate payment), giving further evidence of financial desperation.<\/p>\n<p>While the reporting requirements of publicly-held companies help give you early warning of financial distress, you can still obtain financial risk-related data for your privately-held suppliers. Many services exist and, personally, I\u2019ve extensively used the services of Dun &amp; Bradstreet (affectionately known as D&amp;B). I have found occasional inaccuracies in D&amp;B\u2019s data, but their supplier reporting capabilities definitely do a procurement department more good than harm. There are other services that I have less personal experience with \u2013 Bureau Van Dijk and Cortera are a couple of examples \u2013 but that can help in a similar way.<\/p>\n<p>Look, no supplier is going to say \u201cHey Mr. Procurement Manager. We\u2019re going to be running into some financial troubles in about eight months. Just thought you should be prepared for that.\u201d Therefore, you should look for the warning signs of supplier distress, which means routinely applying smart purchasing best practices like the ones described in the article and gathering the information that is out there from third-party services, when needed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I hope that you have enjoyed the article \u201cHow To [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will You Have An Early Warning That Your Supplier Is Going Bye-Bye? - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will You Have An Early Warning That Your Supplier Is Going Bye-Bye? - Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"og:description\" content=\"I hope that you have enjoyed the article \u201cHow To [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-09-19T18:18:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-06T11:24:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-055.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1288\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Will You Have An Early Warning That Your Supplier Is Going Bye-Bye?\",\"datePublished\":\"2011-09-19T18:18:00+00:00\",\"dateModified\":\"2021-07-06T11:24:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/\"},\"wordCount\":338,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#organization\"},\"articleSection\":[\"Procurement\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/\",\"url\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/will-you-have-an-early-warning-that-your\/\",\"name\":\"Will You Have An Early Warning That Your Supplier Is Going Bye-Bye? 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