Supply chain slavery risk increases with poor procurement practices
Modern-day slavery is a serious human rights issue that affects millions of people around the world. Supply chains are complex networks of entities, including suppliers, manufacturers, distributors, and retailers, that are involved in the production and distribution of goods and services. The complexity of supply chains can create significant risks for modern-day slavery, which can be difficult to detect and address. Cost pressures may be straining suppliers, but companies should consider the impact of their decisions on the supply chain.
To address these risks, companies can take a number of steps, such as conducting supply chain audits, implementing robust labor standards and monitoring systems, and working with suppliers and other stakeholders to identify and address risks. Governments can also play an important role in combatting modern-day slavery by enforcing labor laws, promoting transparency in supply chains, and supporting efforts to identify and address modern-day slavery in the supply chain.
Certain regions of the world are more susceptible to modern slavery, and the United States is aiming to assist with geographical risk. The United States list of Goods Produced by Child Labor or Forced Labour and the Global Slavery Index are both useful tools provided to assist buyers to get better associated with their suppliers. When these modern slavery practices are identified, they must be immediately addressed. Instantly terminating a contract with a supplier is often not helpful, and instead leaves victims of these human rights violations vulnerable - instead, governments recommend collaborating with the suppliers to address the issues involved in their labor force.
Modern-day slavery is a serious human rights issue that affects millions of people around the world.