Know Your Supplier (KYS)

Know Your Supplier (KYS) is a process that organizations use to verify and evaluate the credibility, reliability, and integrity of their suppliers before establishing a business relationship. This involves gathering information about the supplier’s background, financial stability, legal compliance, ethical practices, and quality standards. The goal is to ensure the supplier can consistently meet expectations, reduce risks such as fraud or supply disruptions, and comply with regulatory requirements. Essentially, KYS helps companies build trust with their suppliers and maintain a secure, transparent supply chain.