Monday, February 8, 2016

Supply Chain Transparency to Combat Slavery: the UK's Plan

Most people would make a point of refusing to buy something known to be a product of slave labor. The problem is that sometimes consumers have no way of knowing that, particularly if the items includes a component made from by workers trafficked in and enslaved by the factory. The only way to effectively stop the sale of the products of such labor is to track all the parts used in the supply chain.
Now, the United Kingdom (UK) has set out its own guidelines, titled The Transparency in Supply Chains, etc: A Practical Guide, to help businesses to keep informed about labor sources. The guide help businesses be sure they in compliance of the Modern Slavery Act of 2015.  ...

Rather than government regulating what businesses should do, they rely on the free market forces to have a positive effect. The requirement to publicize what they do or do not do will motivate businesses to do whatever they can to reduce the market for slave labor. In the words of the guide, it would "create a race to the top by encouraging businesses to be transparent about what they are doing, thus increasing competition to drive up standards."
Read more in 

UK Plans to Use Supply Chain Transparency to Combat Slavery