Find out the truth and protect yourself when a supplier seems to be in financial distress.
There have been a number of high-profile cases of companies dealing with bankruptcy and other financial problems recently, and many businesses are now taking a closer look at their partners and suppliers to head off potential issues. However, when a supplier is in financial distress, it won’t always be obvious that there is a problem.
Fortunately, there are almost always signs signaling that you need to delve deeper to find out the financial truth. Perhaps you’ve noticed slower or late deliveries from one of your longtime parts suppliers. You’re concerned that if the supplier continues to fall behind schedule — or worse yet, fails to deliver altogether — a ripple effect will disrupt your company.Click here to view the full article