Technology has made it possible to have almost all human knowledge at our fingertips, but this easy access to information has brought about the age of the informed consumer. More than ever before people are doing research on items before they make a purchase, taking everything into consideration. Product reviews, price, and quality are usually the focus. However, some consumers dig even deeper and ask about where and how a product was created, and how it will impact the environment after it is no longer useful. Goods that are produced by child or forced labor, are funding violent groups, or churn out massive amounts of pollution, are viewed negatively by consumers. This mindset at the dawn of the age of the informed consumer has no doubt been a driving factor in cultivating the demand for companies to focus more on their corporate social responsibility.
Sourcing ethically is a good way for businesses to help safeguard their brand reputation and stay ahead of competitors, but ensuring that it is done properly can be tricky. It adds on to the long to-do list of an already complex supply chain. The entire lifecycle of each material and product(s) must be considered and tracked from beginning to end. Amber Road’s eBook, Ethical Sourcing – The Business Imperative (and Advantage), explains how companies can build a robust ethical sourcing program by using a single global trade management platform to:
- Track all factories and suppliers in the supply chain to monitor for compliance, codes of conduct, and ethical standards
- Gain crucial insight into the benefits, risks, and costs of using individual suppliers
- Maintain a collaborative space for manufacturers, retailers, and distributors to quickly and easily work together in real-time
Compliance and responsible sourcing may be tough, but it is a necessary part of running a successful global business. It is a challenge that all industries must overcome in order to secure their competitive advantage in the age of the internet. Download our eBook now to learn more!
This post was published on July 15, 2019 and updated on July 15, 2019.