ETHICAL SOURCING
83 percent of supply chain specialists say ethics are extremely or very important for their company, according to APICS, a supply chain research group.
When you consider the brand and reputational damage - not to mention the legal repercussions – of unethical labor, it's simple to see why.
Even now, unethical supply chain practices have been discovered in major firms.
In the apparel industry, for example, 93% of corporations claim to have no understanding where their cotton comes from. This might be a costly error. When a sportswear manufacturer was found to be exploiting child labor, the company was forced to pay millions of dollars in fines and, more importantly, had 15% of its value wiped out.
Nonetheless, this company has become a shining example of what can be achieved when ethics are integrated into the supply chain.
An ethical supply chain ensures the highest levels of ethical and sustainable operations.
Few of the issues in Ethical Supply Chains include: (As bullet points).
APICS article :https://www.scmr.com/article/the_ethical_supply_chain
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Ever wondered if ethical sourcing is important? Watch our video and let us know what you think of such incidences.