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UK Business Alerts   UK Business Alerts
Firms wary of slavery in supply chains
29th August 2014
Modern slavery in supply chains could be costing firms a loss of reputation, decreased market share and legal sanctions, with a recent report finding that one in ten firms think it is likely to be present in their supply chain.

The Chartered Institute of Purchasing and Supply research found that 11 per cent of surveyed UK firms admitted that modern slavery is likely to play a part in their supply chain. Only 21 per cent are able to guarantee there is no malpractice in their supply chain, despite the forthcoming Modern Slavery Bill introducing prison sentences of up to a full life term for human trafficking.

Industry initiative Stronger Together has launched new guidance on reducing the risk in supply chains, aimed particularly at firms in the food industry. Firms are advised to incorporate a three-stage approach in their management practices, including assessing risk in the supply chain, agreeing standards with key suppliers, and working in partnership to ensure due diligence.
Are you assessing risk in your supply chain and agreeing standards with suppliers to reduce the risk of unethical behaviour and possible prison sentences?
 
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