If you would like to receive Perspective - our monthly newsletter – which brings you all of our latest news and views as well as interviews and opinion pieces then please follow the link below...
Companies 'failing to carry out due diligence on supply chains'
New research has revealed that less than half of UK companies carry out due diligence on their supply chain.
The survey of procurement managers and directors by Ernst & Young also found that only six per cent of these executives have ever been made aware of unethical supply chain activity.
This is despite the food contamination issues that have dominated the headlines in recent weeks, with several major European food companies now implicated in the scandal surrounding the sale of mislabelled horsemeat.
John Smart, UK head of the fraud investigation team at Ernst & Young, said such issues highlight "the importance of understanding and ensuring the integrity of the supply chain, which is a big part of the DNA of many businesses".
He added that many companies, spread across various sectors, are "not carrying out basic checks" when it comes to the third parties involved in their supply chain.
Mr Smart reminded businesses that current legislation means they must devise and enforce measures to ensure the prevention of potential wrongdoing among partners acting on their behalf.
Odgers Interim are UK leaders in Interim Management solutions for the Commercial Sector. We have offices in London, Birmingham, Leeds, Manchester, Glasgow, Aberdeen and Cardiff as well as over 50 offices globally. We are the only Interim Management providers who are part of a top tier international executive search firm. We work closely with our executive search colleagues to find candidates who can offer short term solutions with long term benefits. www.odgersinterim.com
Categories: Procurement & Supply Chain