Managing Suppliers Across the Global Network is a Burden
Successful import companies rely on a global network of suppliers to validate compliance with corporate, regulatory and social due diligence requirements. Effectively managing the scope and complexity of compliance requirements and collection of results is a never-ending process that experiences frequent changes and require an increasing amount of resource time and focus. Increasingly, retailers, brands and manufacturers are turning to advanced software, collaboration and analysis solutions to ease the burden of supplier community management to protect brands, control costs, reduce risks and maintain trust.
Challenges
As the organization increases the assortment and volume of imported goods from lowest cost countries, the work and time required to manage each supplier’s corporate, regulatory and social compliance increases proportionately increasing expense and reducing margins.
Expanding the quantity of global suppliers increases the burden to effectively communicate expectations and results in a timely and accurate way.
Suppliers are often the source of required compliance information, making the process of collection, tracking and reconciliation a significant administrative task taking away from higher value-added activities.
Automate Compliance Program Operation
Clarity™ Supplier Management, a hosted software module and information collaboration system on the ClearTrack® Global Trade Management network platform, addresses the key challenges of managing an effective supplier management program across a global network. The Supplier Management application module supports the monitoring, collection and measurement of validated compliance results and certificate information from the global trading community while providing deep insights into supplier compliance, reducing risks and empowering the program team to meet increasing business and regulatory demands. Compliance and certificate information is collected via online portals or automated interfaces as supported and automatically measured against the organization’s requirements – effectively creating and validating each trading partner’s ‘compliance plan’.
Benefits