U.S. retailer Wal-Mart Stores Inc (WMT) said on Wednesday it will upgrade its vendor compliance process in China, requiring more documentation and making use of a computer-based system to help suppliers manage associated paperwork. The announcement came after state-owned China Central Television (CCTV) criticized the world's No. 1 retailer for circumventing its quality control process and fast-tracking some products with higher profit margins. Wal-Mart will "ensure the correct documents and other required items are in place before the products are sold in our stores," the retailer said in a statement. Documentation includes labels that accurately reflect ingredients, government test reports, China Compulsory Certificates, sample products or photographs, copies of manufacturing permits, details substantiating health claims and claims such as "organic" and "world-famous", official barcodes and papers on intellectual property.
via Business News - Yahoo Finance http://ift.tt/1fuStPQ
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