In today’s market, every business needs greater transparency to meet consumer and industry demands. But supply chain transparency is an ambitious endeavor that is not “one size fits all.” The way a company approaches achieving greater visibility can differ depending on resources, corporate priorities, supply chain size, desired outcomes, and more.
The world of supply chains has transformed. This has meant the rise of buzzwords to describe new technologies, goals, and innovations as the industry shifts to accommodate this new world. But these buzzwords can be vague, overused, and even misused, leading to greater confusion about what they mean.
October 18th is Anti-Modern Slavery Day. This annual reminder gives businesses the opportunity to reflect on how their supply chains may be impacted by modern slavery and what steps they can take to eliminate it.
Given their use in everyday items such as mobile phones and jewelry, as well as in tools used to manufacture other products, conflict minerals are more widespread than you may think. Businesses must take steps to ensure the minerals found in their products are sourced responsibly.
Transparency in the supply chain is a hot, cross-industry topic that especially affects the automobile industry. In this context, the transition to e-mobility poses technological and infrastructural challenges to the Volkswagen Group: in order to ensure sustainable mobility, the responsible procurement of raw materials, especially of cobalt, lithium, nickel, lead and rare earths, has the highest priority.
While multi-tier supply chain transparency is challenging to achieve, it can reap serious benefits for businesses that invest the time and resources. Taking progressive steps to achieve visibility at multiple tiers can benefit businesses in five ways.
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