Mitigating compliance risk
Implications for global supply chains
To manage supply chain compliance requirements efficiently and effectively, organizations need not only the knowledge, access to information, and ability to interpret the impact of existing compliance requirements, but they must also have the capability to scan the horizon for new and rapidly emerging requirements.
Explore the implications for global supply chain
The global supply chain compliance landscape is more dynamic today than during any other time in history. Increased stakeholder expectations, heavy fines resulting from non-compliance with environmental regulations, delayed market access due to complex global trade rules, and a multitude of overlapping product integrity requirements are common challenges organizations navigate.
The struggles companies face with managing supply chain compliance become more evident when taking a deeper dive into the core issues many organizations face.
This perspective will discuss issues including:
- Visibility and transparency
- Communication and collaboration
Supply chain compliance is an enterprise-wide responsibility, and collaboration is essential to effectively manage compliance requirements and minimize any disruptions to operations. Guidance from the compliance function(s), sustainability, quality assurance, engineering, and the customs/trade group must be timely and actionable to enable effective execution by the supply chain function (i.e., supplier management, sourcing, operations, procurement, and logistics) and third-parties (e.g., brokers, third-party logistics providers, etc.). The Deloitte framework in this perspective will illustrate the key areas of a supply chain compliance program that organizations should consider.