SupplyChainTransparency as the basis for sustainable business practices meanshaving reliable data flowsand commitment to openness.Basically, this means that a company knows exactly what is happening at each stage of its supply chain.Thisenablestoanalysethe risks at each stage of its supply chain and communicate them based on factually supported information about its supply chain operations.It enablescompanies to collaborate more effectively around processing transactions and resolving problemsas it includes certain data communication with parties within the supply chain and outside, such as with customers, suppliers, stockholders, and regulatory agencies.SupplyChainTransparency allows to show responsibility.
Supply Chain Transparency requires cooperative business activities. A significant increase in public demand and a growing demand for knowledge about product components and materials, where products come from and under what conditions they were produced, underline the need for supply chain transparency for sustainable business. Without transformation, loss of competitiveness will follow. Supply Chain Transparency supports a fast and efficient response in a changing environment.
It is helpful to first get an overview of your specific situation and answer important strategic questions, such as:
What does our supply chain management currently look like?
Where is there potential for optimisation in our processes?
Which supply chain goals are beneficial for our company?
HOW TRANSPARENT IS YOUR SUPPLY CHAIN?
supplier screening
reliable dataflow
database - traceability
analysis & corrective action management
individual supplier ranking
Order Managment
orders placement
purchasing guidelines
Internal and external communication
supply chain visibility
marketing strategy
internal information management
Sustainability & transparency assessment
integrated reporting mechanism
FUTURE PERSPECTIVE
Among the many sustainability policies European governments have made supply chain transparency and its ability to manage the value chains more effectively, identify and address labour and human rights violations and environmental impacts, a priority. It is therefore to be expected that transnational regulations will follow in addition to the already existing recommendations and guidelines.
Supply chain transparency is a road to responsible and sustainable business practices. Take it with the right tool – one that is optimized exactly on your demands to share and control your dataflow.
gsm is an expert for sustainable value creation. We offer strategic and technical support for brands, retailers and suppliers on social responsibility, chemical management and environmental protection.
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