Make the Most of Supplier Information to Manage Risk
To mitigate regulatory and reputational cost, organizations need robust, accurate and extensive supplier information.
By Costas Xyloyiannis, CEO of HICX
What was once “nice to have” information has been defined by law. As concern grows around modern slavery, GDPR, conflict minerals and climate change, governments and related third parties are demanding, with regulatory backing, that businesses ensure ethical supply chains.
To mitigate regulatory and reputational cost, organizations need robust, accurate and extensive supplier information. For those with large complex supply chains, this is no mean feat. But apart from alleviating risk, getting your supplier information ducks in a row can also drive value.
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