J.S. Held, a global consulting firm, recently released a report on ethical practices with supply chains.
The report highlights the ethical imperative of supply chains, business imperatives, fair trade, work force education and skill development, ensuring that workers have access to healthcare services, environmental sustainability, sustainable sourcing, supply chain transparency and visibility, cost, supplier collaboration and compliance, regulatory complexity and compliance, changing consumer expectations, balancing profitability with ethical practices, and the principles of diversity, equity, and inclusion.
The report also examines challenges and opportunities.
“Adopting ethical supply chain practices is imperative for future-proofing businesses against the backdrop of increasing environmental concerns and social justice movements,” said Andrea Korney, vice president of sustainability for J.S. Held’s ESG & EHS Digital Solutions group. “By fostering transparency, fairness, and sustainability, companies can lead the charge towards a more equitable and prosperous global economy.”
An ethical supply chain is rooted in a commitment to social justice, the report said. This includes such practices as prohibiting child labor, forced labor, and discrimination, and helps to promote human rights and support communities.
The report also contends that Environmental sustainability also is a cornerstone of ethical supply chains. By participating in fair trade and minimizing ecological impact, businesses can mitigate their environmental footprint to help preserve the planet.