Now more than ever, businesses are expected to uniformly uphold ethical standards across their entire global supply chain management. They are being held accountable from day one.
Avoid the following risks and threats of the supply chain continuum:
Did you know that two-thirds of adults worldwide say corruption is widespread in business?1
Businesses are being asked questions such as:
To ensure that companies are not engaging in child slavery or conducting business with vendors that use forced labor, businesses need to be able to document how they are sourcing their staff. In a benchmarking report, more than half of the companies in the apparel and agricultural industries were found not to meet expectations on preventing child labor in their supply chain.2
Suppliers face similar scrutiny as the businesses they are working with – and they face all the same foundational risks. Fewer than a third of supply chain executives looked to address corruption and bribery issues with their suppliers in a recent survey of corporations representing major industrial countries.3
What may be acceptable compliance practices in one country, may not be acceptable in another. It is imperative that businesses know the differences in compliance along their distribution routes. It has been estimated that customs clearance adds about $185 for each day delayed to the cost of a consignment. It is for this reason that many shippers prefer to bribe custom officials in order to shortcut the process.4
The integrity of your global supply chain management is at risk within every inflection of the product lifecycle. Supply chain issues rooted in bribery and corruption have real impacts and the responsibility to help prevent them begins with your business.
Our solutions reinforce your ongoing commitment to corporate responsibility by effectively raising supply chain risk visibility -- so you can remain focused on your core values and your core business.
1 Crabtree, Steve, and Khoury, Ghassan, “Are businesses worldwide suffering from a trust crisis?” Gallup, February 6, 2019. https://www.gallup.com/workplace/246194/businesses-worldwide-suffering-trust-crisis.aspx
2 and 4 Slobe, Erik, “Corporations failing to meet human rights obligations report,” Jurist, November 12, 2018, https://www.jurist.org/news/2018/11/corporations-failing-to-meet-human-rights-obligations-report/
3 Webb, Jonathan, “Two thirds of corporations ignore corruption in their supply chains,“Forbes Magazine, July 19, 2017. https://www.forbes.com/sites/jwebb/2017/07/19/two-thirds-of-corporations-ignore-corruption-in-their-supply-chains/#24c07a92348d