Benchmarking Network, Inc - Business Process Best Practices

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This service is provided by The Benchmarking Network, Inc., an international resource for business process research and metrics. We lead studies with over 140,000 process leaders in over 65 countries. We provide benchmarking training and research to individual companies, professional and trade associations, and industry and process based groups. Since 1992, our over 300 benchmarking studies have spanned virtually all processes and industries to identify measures and collect data.

Mechanically, Ford did not have a problem eliminating invoices, but it had to change its basic processes with its suppliers. Ford decided on a program of: * Redefining the terms of the relationship to move away from the need to invoice on a regular basis. * Standardize payment terms on a total supplier basis, rather than by individual purchase order. * Communicating with suppliers to assure them that sufficient controls continued to exist. * Instituting disciplined receiving practices for inventory and payment control purposes. * Ensuring that all the terms and conditions were on the purchase order and understandable by all parties.