Executive Briefings

Analytics Enlisted to Help Combat Supply Chain Fraud

With supply chains offering a persistent source of fraud risk, a growing number of organizations are turning to analytics to understand and mitigate their exposures.

Analytics Enlisted to Help Combat Supply Chain Fraud

One of the consistent findings in Deloitte has found in 2016 relative to prior years is the percentage of respondents whose companies had experienced fraud, waste or abuse in their supply chain during the past 12 months, says Larry Kivett, Deloitte Advisory partner. “That stayed pretty consistently at around the 30-percent level in the last several years, and this year there was a slight uptick to 31 percent of respondents that experienced some type of fraud, waste or abuse.

While this year’s results are consistent with prior years, we believe that the percentages of organizations reporting that they had experienced fraud, waste or abuse could potentially be understated because obviously it’s dependent on the respondent’s knowledge of whether or not a fraud occurred. There could have been other instances of fraud or investigations, so respondent percentages may be lower than the actual results for the given population.”

While the overall results were consistent, Deloitte did notice an uptick this year within a couple of industries, primarily in life sciences and health care, and also energy and resources.

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One of the consistent findings in Deloitte has found in 2016 relative to prior years is the percentage of respondents whose companies had experienced fraud, waste or abuse in their supply chain during the past 12 months, says Larry Kivett, Deloitte Advisory partner. “That stayed pretty consistently at around the 30-percent level in the last several years, and this year there was a slight uptick to 31 percent of respondents that experienced some type of fraud, waste or abuse.

While this year’s results are consistent with prior years, we believe that the percentages of organizations reporting that they had experienced fraud, waste or abuse could potentially be understated because obviously it’s dependent on the respondent’s knowledge of whether or not a fraud occurred. There could have been other instances of fraud or investigations, so respondent percentages may be lower than the actual results for the given population.”

While the overall results were consistent, Deloitte did notice an uptick this year within a couple of industries, primarily in life sciences and health care, and also energy and resources.

Read Full Article

Analytics Enlisted to Help Combat Supply Chain Fraud