Over the past decades, supply chains have become increasingly globalised, complex and competitive. Outsourcing production, or sourcing from suppliers in developing or emerging economies, can deliver significant benefits such as reduced costs, and contribute to much needed development.
However, as companies around the world, including Australia, increasingly understand, this is not without significant risk, both to the companies themselves as well as those in or affected by their supply chains.
On the other hand, a proactive approach to incorporating good environmental, social and governance practices into supply chains allows companies to better anticipate and manage reputation, operational, legal and financial risks. It can also bring a range of benefits and add long-term value across the entire value chain – for all tiers of suppliers, customers, consumer and investors.
The UN Global Compact defines supply chain sustainability as the management of environmental, social and economic impacts, and the encouragement of good governance practices, throughout the lifecycles of goods and services. The objective of supply chain sustainability is to create, protect and grow long-term environmental, social and economic value for all stakeholders involved in bringing products and services to market.
Human Rights in Supply Chains: Promoting positive practice
Supply Chain Sustainability: A Practical Guide for Continuous Improvement
A Structured Approach to Prioritize Supply Chain Human Rights Risks
Stand Together Against Corruption: A Practical Guide to Help Prevent Corruption in the Supply Chain
Support your SME Supplier
Website: Sustainable Supply Chains: Resources and Practices
Website: Quick Self-Assessment & Learning Tool
Further resources are available here