02. Financial viability of the supplier
STATE OF FLUX
Operating Statement
Observations
Gap analysis and improvement opportunities
Ensuring the health and safety of your suppliers’ workforce
2.1 As local laws and regulations change, based on the state of the pandemic, your records are updated to reflect these changes. 2.1.1 Operating procedures are adjusted in accordance with changing laws and regulations. 2.2 The long term effects of the pandemic, which have or will impact your organisation financially, have been evaluated (for example, loss of present or potential customers). 2.3 The amount of time that your organisation can sustain short-term, financial impacts due to the pandemic have been identified (for example, current customers have outstanding invoices). 2.4 Initiatives to reduce costs have been implemented to mitigate the effects of short-term and long-term financial impacts to your organisation. 2.5 Financial and customer contracts are stored digitally (for example, a computer database or online). 2.5.1 Documents are updated on a regular basis based on the state of the pandemic. 2.6 More lenient payment terms have been agreed upon between you and your customers. 2.7 More sustainable processes have been implemented where applicable. 2.8 Temporary payment agreements have been negotiated between you and your customers.
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COVID-19 SAFE SUPPLIER OPERATING STANDARD PART TWO
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