How Transparent Is Your Supply Chain? Slavery Can Be Just Around The Corner
With more business’ expanding their operations into regions such as the Middle East and Asia, many companies need to identify what is a risk and what can be left as business as usual. Many UK based organizations see the opportunity growing in these regions and now have to revaluate how they define their risk. With the UK Modern Day Slavery Act hovering over companies that conduct business globally, making sure the members of your companies supply chains are abiding by the rules and regulations of this legislation is critical.
With high focus on companies to conduct ethical business practices, the scrutinizing of supply chains is at a high rate as the public does not want any of their consumer goods to be made from forced labor hands. Rightfully so, it is up to the companies and its executive team to ensure that they know what is involved within their supply chains.
Early last month, new provisions for the UK Modern Day Slavery Act came into effect, which focuses heavily on slavery within the supply chain. With so many UK based companies doing business within the country and other global brands using the UK as an opportunity market, having supply chain transparency is vital to abide by the laws associated with the UK.
Supply chain transparency is a concept that is being heavily adopted by major brands to ensure its customers are buying ethically developed products. This is a movement that many see will be focused making sure that slavery is no where near supply chains and the products being made are from ethical sources.
As this legislation is new and being interpreted by many, there is confusion when interpreting what needs to be done. Taking a look at legislation that focuses on slavery within the supply chain can be an extensive task. Source Intelligence compiles what leading legislation is focusing on the slavery and supply chain topic and presents it in a way that is clear and understandable. Click here if you would like to learn more.
