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Awareness of modern slavery is on the rise. Consumers are demanding ethically produced goods and services, and businesses understand that cost competitiveness shouldn't be at the expense of human rights within supply chains. There is a growing realization that non-adherence to international norms or investor expectations could pose significant reputation and brand risks.
Governments too, are introducing legislation to tackle this issue head-on. In Australia, the Modern Slavery Act mandates companies with annual revenues over $100 million to disclose their initiatives towards addressing modern slavery risks in their operations and supply chains. Similarly, New Zealand has proposed rules for businesses with revenues over $20 million to report their anti-slavery measures.
Consequently, businesses can no longer ignore the importance of having a robust system for supplier onboarding that drives transparency and accountability. With board room discussions focusing on ethical supply chains, efficient verification tools like EVA Check-in’s Supplier Compliance Management have become indispensable.
Benefits of using supplier management tools to combat modern slavery
EVA Check-in’s Supplier Compliance Management feature supports businesses to ensure their supply chains are transparent. Agreeing to your modern slavery code or having a modern slavery monitoring system in place helps identify any existing or potential risks.
The software supports robust due diligence processes on suppliers by validating their compliance with regulations against modern slavery, along with ethical standards maintained by them.
Use it to:
- Gather relevant information about suppliers including certificates, policies, and audit records.
- Automate workflows for single step and multi step approvals to prevent delays in onboarding.
- Re-verify suppliers after a set period (usually one year) to ensure compliance is retained or improved.
- Provide transparent information to your stakeholders about who you choose to work with.
- Have one view on the status of your supply chain. See status items like approved/declined/More information needed etc.
As modern slavery persists in supply chains, legislative changes and consumer pressure are increasingly holding businesses to account. Supplier compliance management tools, like EVA Check-in, help businesses fulfil their obligations and ensure the integrity and transparency of their supply chains easily. By leveraging these tools, organizations can verify their supply chains, identify potential risks, and take necessary measures to combat modern slavery.
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