These and other measures are high-impact areas for the industry to focus on, and Better BuyingTM stands ready to help brands and retailers begin measuring their commercial compliance so they can identify and mitigate areas where they are deficient. ”
Dr.Marsha Dickson, President and Co-founder of Better Buying Imstitute
BBI has unveiled its first annual report, the “Better Buying Commercial Compliance TrackerTM,” as part of its participation in The Sustainable Terms of Trade Initiative.
Among the key findings, the report highlights four specific practices where compliance is notably interconnected with compliance in other essential areas.
Brands and retailers seeking to enhance their purchasing practices are encouraged to concentrate their efforts on these aspects, including:
1. Payment in Full
2. Allowing adjustments to prices paid to suppliers when external costs fluctuate.
3. Committing to prices that cover all costs associated with compliant production, enabling suppliers to earn a reasonable profit.
4. Confirming production capacity in advance.
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