“ The compliance standards in the UK and in the wider EU have only gotten stricter in the last couple of years , including requirements such as DORA , GDPR and NIS 2 Directive ,” he adds .
“ Conducting regular audits ( both onsite and document reviews ) can help flag non-compliance at an early stage to implement corrective actions such as potential termination of the supplier contract to avoid ethical and reputational risks .”
Graham has noticed that engagement with suppliers improves markedly once those companies see the business and cost benefits of joining programme like a supplier development programme : “ Seeing the benefits that other suppliers have motivates suppliers , especially if companies share achievements and create measurable goals for their suppliers to reach .”
Future horizons : Navigating the path forward for supplier codes Continuous review and improvement of the supplier code of conduct is paramount for companies seeking to maintain ethical standards , mitigate risks and align with evolving regulatory requirements and stakeholder expectations .
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