Exact(2)
The FRC will "pay particular attention to the audit of revenue recognition and complex supplier arrangements" at food, drink and consumer goods manufacturers, as well as retailers.
It comes as Moody's, the ratings agency, has been complaining that a "lack of consensus" among the UK's large food retailers is detracting from efforts by the Financial Reporting Council (FRC) to improve the way that they report "complex supplier arrangements".
Similar(58)
The automotive industry is an economically relevant sector with complex integrated supplier relationships.
Manufacturing times drop from more than a week to less than a day, and in futuristic factories like those at the Flextronics Guadalajara complex, component suppliers are often situated adjacent to the assembly line.
The knock-on effect of lost work to the complex's suppliers and customers, which include other Scottish chemical firms, would mean further job losses and economic damage.Grangemouth produces a big chunk of Scottish exports of refined petroleum and chemicals, which are reckoned to account for £3.7 billion of the country's total foreign exports of £23.9 billion in 2011.
Ofgem has previously suggested the market is run on the basis of "complex tariffs, poor supplier behaviour and a lack of transparency".
For decades, the main focus of SCM has been on efficient ways of managing the flows through complex networks of supplier, producers and customers.
By all accounts, the automakers are relegating more and more engineering of complex components to suppliers.
Even the most basic goods depend on complex links between suppliers strewn across the globe.
Ford Motor said yesterday that it planned to build a $400 million manufacturing and distribution complex for its suppliers near a Taurus and Mercury Sable plant in southeast Chicago.
While high-tech goods rely on a complex network of suppliers that help keep inventories of parts low, most manufacturers whose factories are still operating have enough parts to continue operating for some time.
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