A Five-Part Approach to Combating Human Trafficking With Data and Analytics
Human trafficking is a practice deeply embedded in supply chains across multiple industries across the globe. The International Labour Organization estimates that 21 million men, women and children around the world are currently in forced labour, and it can affect even the most reputable of companies.
The ILO defines forced labour 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 it from your supply chain, traditional surveys and agreements with suppliers can only get you so far.
As Dun & Bradstreet’s Greg Iaquinto, Leader in Global Supply & Risk Solutions, writes in a new article published by 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.
Through our work with supply chains around the world, we've identified a five-part approach to doing this effectively:
1. Create a holistic view to identify risky suppliers. Paint a complete picture of each supplier's corporate structure - including the parent company and any subsidiaries
2. React to the discovery. Prioritise your customer base and decide who to monitor first
3. Comply and Report. Ensure that you track your status versus your internal goals and external regulations
4. Adjust. Take immediate action to replace suppliers who have high risk of connection to forced labour
5. 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 our new index can help make sure your supply chain is operating the right way, check out the article at The Huffington Post.
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