When does the buyer develop their compliance policy in the supplier enablement process?

The buyer develops their compliance policy before the Project Notification letter is sent. This is a crucial step in the supplier enablement process as it sets the groundwork for the entire relationship between the buyer and the supplier. Establishing a compliance policy at this stage ensures that all expectations regarding legal and regulatory requirements are clearly outlined and communicated upfront.

This proactive approach helps to minimize risks and potential issues later in the process by ensuring that suppliers are informed of the compliance standards they need to meet to engage with the buyer effectively. Having this policy in place prior to sending the Project Notification letter allows the buyer to convey necessary compliance expectations clearly right from the outset of their dealings with suppliers. This, in turn, streamlines the onboarding process and contributes to a more effective procurement strategy.