Top 6 Challenges to Establishing an Ethical Supply Chain

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Ethical Supply Chain

Ethical Supply Chain- How do you build the necessary level of end-to-end visibility, analytics and trust into an ethical supply chain? It starts with digital transformation.

From sourcing and screening trustworthy suppliers, to securing information flow and maintaining verified visibility, the ethical supply chain is only as good as its owner’s ability to collaborate with partners and anticipate future challenges.

Without the ability to connect, discuss/resolve issues, and manage disruptions, a supply chain becomes hardened and has very little flexibility.  Companies and suppliers must be able to collaborate by digitally sharing ethical practices, certifications, contracts, shipping information, and more. Supplier information management becomes critical in times of both growth and disruption to ensure products are available for sale. Analyzing historical data and using predictive analytics, allows companies and suppliers to identify opportunities to improve their resilience in challenging times.

The massive, continuous flow of data generated by global supply chains today has intrinsic value well beyond just troubleshooting problems as they come up. Longer-term competitive advantages from artificial intelligence, machine learning and advanced analytics allow for a formidable offensive game.  However, as adoption of advanced analytics tools becomes more widespread, ethical supply chain professionals will face mounting compliance risk and cost pressures to adapt.

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Article Credit: SCB

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