The German Supply Chain Due Diligence Act: A practical guide
The German Supply Chain Due Diligence Act: A practical guide
With the German Supply Chain Due Diligence Act at the latest, there is movement on the issue of social and environmental sustainability in supply chains. Companies need to address the requirements proactively: Implementation of risk management, Reporting requirements from the German Supply Chain Due Diligence act must be quickly followed by deeply embedding sustainability in supply chain processes and support through technology and automation.
- What companies' due diligence obligations are required by law?
- Establishing a risk management system & conducting a risk analysis
- Adoption of a policy statement of the company's own human rights strategy
- Anchoring preventive measures in the company's own business operations and vis-Ã -vis direct suppliers
- Taking corrective action in the event of identified rights violations
- Establishment of a complaints procedure for recording violations of the law
- Duty of documentation & proof for the fulfillment of due diligence obligations
The second procurement and supply chain team needs to analyze the supplier risk and categorize it into segments. In addition, the IT team needs to review how to integrate and automate the supplier communication, data gathering and reporting.
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