As the global economy continues to expand, many U.S. based companies are using off-shore suppliers to manufacture, assemble and ship their products to distributors and customers around the world. Many of these suppliers are newly formed and located in remote areas of the world which are recently developing and have little regulation. Frequently, information about these companies is difficult to obtain. In most cases, business is transacted with these companies over the telephone and via email which increases risk substantially.
As a result of these dynamics, the U.S. Federal Government and other governmental agencies globally have enacted laws such as the California Transparency in Supply Chain Act of 2010 (SB 657) and the UK Modern Slavery Act that require companies to know who they are doing business with and to ensure they are conducting business fairly and ethically. Additional governmental regulations which require companies to certify their supply chain is free of Conflict Minerals and are compliant with REACH and RoHS requirements are difficult to manage.
Learn how the GRMS Supplier Risk Assessment Program helps many of the nation’s top manufacturers mitigate these issues on a global basis.