SUPPLY CHAIN
their supply chains to mitigate both environmental and social risks .”
Tracing back to the source with supply chain mapping More intuitive technologies , such as artificial intelligence ( AI ) and machine learning , leave fewer and fewer excuses for lack of visibility over the supply chain . While there remain challenges around labour exploitation , which are difficult to measure , it is expected that intelligent technologies will play a major role in debunking the labour impact of supply chains as more data becomes available .
“ The Global Trace Protocol sought to meet these growing needs , by helping to monitor risks to ensure that supply chains are free of exploitative labour practices . It seeks to solve a number of challenges including complex , opaque , shifting supply chains and the need for upstream visibility and due diligence ,” Spaulding explains .
“ As global companies search for better and more efficient technologies to benefit risk management , 2024 will no doubt see organisations leveraging AI algorithms to analyse vast datasets for compliance with ESG standards .”
Unexpected ESG risks in the supply chain With various factors in mind , 2024 will echo the previous year ’ s trends whereby businesses question the narrative . They will look to ensure ESG metrics and measurements are targeted toward the right areas and provide adequate data to make informed decisions .
With more suitable data backing their risk management efforts , supply chains will be governed by more strenuous regulations that we hope will hold them accountable to adapt their social strategies to eliminate some of the longstanding issues within their industries .
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