Protecting Supply Chains from Forced Labor
As consumer preferences continue to increase for goods that are environmentally sustainable and socially responsible, prioritizing risks in the supply chain has evolved to focus on new and challenging areas of concern. The concept of forced labor as a risk to global supply chains is not new; however, international efforts to combat forced labor have become more urgent in recent years, emphasizing the growing need for stronger actions to end or, at a minimum, remediate this and other modern forms of slavery.
The challenges are real. Supply chains of global companies often have tens of thousands of suppliers across multiple tiers. Companies often only have direct contractual relationships with first tier suppliers, and very limited or no visibility of the supply chain beyond that. Tier-1 suppliers may be protective of information with respect to their further supply chain. Additionally, leverage over suppliers differs greatly depending on the size of the company, the size of the suppliers, and the nature of the relationship. Cost implications that are associated with due diligence can also prevent many companies from taking the necessary steps to identify and address forced labor in their supply chains. There are, however, numerous reasons that companies should put controls and procedures in place to combat forced labor in their global supply chains – besides being a socially responsible company.
Join AmCham for a virtual meeting on October 25 to hear from officials at the US Customs and Border Protection’s Office of Trade on the latest rules and best practices for ways businesses can take a collaborative approach to combat forced labor practices, improve supply chain traceability, and develop reasonable guidelines for voluntary disclosures.
AmCham Virtual Meetings provide unprecedented access to the political, policy, corporate, and institutional leaders whose expertise, insights, and experience shape the global business climate. Take advantage of this opportunity to learn practical measures you and your partner companies can take to ensure compliance and avoid having your shipments detained. There is no cost to participate. Please register your participation by clicking on the button below or by calling the AmCham office (84) 24 3934 2790.