Modern Day Slavery is More Common Than You Think
Modern day slavery is a practice deeply and unfortunately embedded in supply chains across multiple industries and nations. The International Labour Organization estimates that 21 million men, women and children around the world are in forced labor, and it touches even the most iconic of companies.
The ILO defines forced labor as "all work or service which is extracted from any person under the menace of any penalty and for which the said person has not offered himself voluntarily," and when it comes to eliminating modern day slavery from your supply chain, traditional surveys and affidavits with suppliers only get you so far.
As we write in a new article at The Huffington Post, data and analytics are critical to creating a comprehensive, up-to-date and global view of human trafficking risk in your supply chain.
5 Solutions to Slavery You Can Use Today
Through our work with supply chains around the world, we've identified five keys to doing this effectively:
- Create a holistic view to identify risky suppliers. Paint a complete picture of each supplier's corporate structure. - including the parent company and subsidiaries.
- React to the discovery. Prioritize your customer base on whom to monitor first.
- Comply and Report. Ensure that you track your status versus your internal goals and external regulations
- Adjust. Take immediate action to replace suppliers who have high risk of connection to forced labor
- Monitor constantly. Stay on top of regulations and new hot spots - industries and geographies with higher likelihood of human trafficking
With the launch of our new Human Trafficking Risk Index, we aim to help our customers combat this - empowering them to proactively shine the light on those dark corners of their supply chains and stay ahead of increasing government regulations.
For more on the strategy, and how the new index can help make sure your supply chain is operating the right way, check out the article at The Huffington Post.