Guildford, UK (7 December 2009) - Inovis today announced details of an initiative to help UK retailers meet the demands of the recently announced Groceries Supply Code of Practice (GSCOP). Under the new code, retailers will be under increased pressure to meet requirements on how they trade with suppliers, including keeping records of all negotiations and supply terms. Read more about this initiative called Actionable Intelligence from Inovis.
To help retailers implement and adhere to the GSCOP compliance regulations, Inovis can provide the Actionable Intelligence (AI) solution, a real-time dashboard that allows retailers to self-regulate quickly and efficiently ensuring all parties remain compliant and eradicating risk within their trading relationships.
Retailers have until February 2010 to meet the new GSCOP code from the Competition Commission.
Inovis Actionable Intelligence is a software-as-a-service (SaaS) that monitors a retailer's stream of electronic purchase orders, shipment notices (ASN) and invoices against compliance rules such as GSCOP. This capability provides both retailers and their suppliers with early visibility to compliance issues and a collaborative way to repair errors to ensure long-term compliance and reduce risk.
In addition to retailers having to monitor daily trading processes and practices it is envisaged that the appointed Code Compliance Officer (CCO) will be required to:
- Facilitate both ad-hoc and year end reporting
- Alert on critical and financial non conformances
- Provide supplier trading history for dispute or remediation programs
"Many retailers face a real challenge to meet the new GSCOP code before the February 2010 deadline, due to the often complex nature of trading relationships and how information is exchanged," said John Kearns, Head of Strategic Alliance Development, Inovis. "Inovis has extensive experience working with retailers and their suppliers on overcoming compliance problems, and through the Actionable Intelligence solution, we can take the pain out of meeting GSCOP requirements whilst building better trading relationships."
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