EMBRACING EVOLUTION : THE IMPERATIVE OF CONTINUOUS CODE ENHANCEMENT
Technology has significantly aided companies in enforcing supplier codes of conduct by enhancing monitoring , communication and compliance processes . It helps companies enforce supplier codes of conduct by streamlining monitoring processes , enhancing communication with suppliers , and facilitating data-driven decision-making to ensure compliance .
Kim says that OSC using technology in the monitoring and tracking of suppliers ’ performance against the principles laid out in the code has a number of benefits . Automating the data collection process reduces time and errors associated with collecting the data manually . “ Alerts can be received in real time as compliance issues arise or risks are identified , allowing quick compliance resolution ,” she adds .
“ Technology can also help analyse the data gathered and report trends to support more effective management of the supply chain .”
Stuart underscores technology as a powerful tool to strengthen enforcement of supplier codes of conduct . “ Compliance and automation software can monitor the performance of associated suppliers by conducting automated audits to identify areas of non-compliance . This helps streamline the process and ensure that all suppliers are held to the same high standards . Data analytics is also a powerful tool for risk monitoring and assessment .”
Graham has seen how technology can improve how companies share information with suppliers and communicate and support suppliers . As part of epi ’ s Supplier Development Programme , suppliers take an online assessment , which gives the companies buying from them a real understanding of their supply chain and how it ’ s changing .
“ Technology also helps with communication – specifically with reporting and suggesting improvements to suppliers , as well as overcoming language barriers and making it easier for suppliers to talk about their work or any issues they ’ re having ,” he says .
158 August 2024