Report: Target to institute new rules, penalities for vendors

Target Corp. is getting tough with vendors as it works to improve its supply chain. The retailer plans to tighten deadlines for deliveries to its warehouses, hike fines for late deliveries, and could institute penalties of up to $10,000 for inaccuracies in product information, according to a report by Reuters. The new rules and penalties, detailed in a letter sent to suppliers, will start to take effect at the end of the month and will be rolled out over the next 60-90 days, the report said. (Reuters)