As energy prices become more volatile, commodities surge in price and manufacturers look for new markets in which to hire workers, it behooves companies even more to ensure their supply chains are more resilient and socially responsible. NGOs are scrutinizing supply chains across the globe in this age of social media that can turn the shenanigans of a wayward supplier into a massive global headache for a company. Add the recent tragedy in Bangladesh, which follows only a few months after another avoidable catastrophe, and the importance of a more collaborative and transparent supply chain, becomes even more crucial.
The authors of the Deloitte study remind us that engaging suppliers is about more than setting demands: companies must set clear goals and expectations for their vendors. And if a company does not have a lucid supply chain code of conduct, the organization is already way behind on its social responsibility agenda.
