Enable Blog — Industry Sector: Retail

Tesco's scandal: a cautionary tale for the collaborative economy

Posted by David Hunt on January 27, 2016 11:47:00

If profit is the most important word in the business world then trust must run it a very close second. In the new collaborative economy the trust between businesses and their trading partners is key to their ability to move forward as one with transparency.

A damning report from the Groceries Code Adjudicator (GCA), has today seen Tesco, Britain’s biggest supermarket chain, pay the price for poor supplier rebate management, after delaying supplier payments and failing to raise accurate invoices.

Tesco’s accounting scandal has brought the importance of the collaborative economy and the consequences of falling short in collaborative business planning into focus.

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Topics: Press Articles, Industry Sector: Retail