Supplier performance must be managed and documented, and any performance issues must be addressed.
Organizations should include a dispute resolution process in their contracts.
For services, organizations must:
Expense claim and reimbursement for consultants, contractors and other suppliers must be compliant with the BPS Expense Directive:
All procurement documentation with any other pertinent information must be retained for 7 years minimum (CFI requires 10 years).
Organization must have a written policy for handling, storing and maintaining the suppliers’ confidential and commercially sensitive information.
Individuals involved with the supply chain activities must declare actual or potential conflicts of interest.