Is Your Supply Chain Ready For The New Provisions For The Modern Day Slavery Act?
With October around the corner, the UK Modern Day Slavery Act will be in full enforcement with new and heavier regulations for companies operating within the UK. This new provision, under section 54 of the MDSA, will apply to all commercial organizations that conduct business in any parts of the UK. The goal is to wipe out human slavery within any one of these business’ supply chains.
Many organizations don’t really know what these new provisions will bring and some are unaware of how to better prepare themselves. Under the new provision, companies will be required to publish a statement of what steps it has taken to ensure that slavery and human trafficking are not involved within their supply chain or any part of their business operations. Policies and procedures should be in place in order to ensure that these types of serious issues are not going to be involved in their supply chain. Proper due diligence and a proactive approach to ethical business relationships will help improve and deter any type of slavery and human trafficking within any supply chain.
Audits and close examination by a qualified 3rd party can greatly help improve your visibility within your supply chain. As supply chains become increasingly more complex the more you expand into global markets, so do the challenges in making sure you are unethically sourcing from areas that may promote these acts. Increasing your visibility, asking the right questions, and seeing what areas can be doorways into greater risk can greatly improve your organizations standards on combatting these issues and being compliant with the new provisions in the MDSA. To learn more on how to better prepare for the upcoming provision and how to use other solutions for your supply chain visibility, click here.
