What Does SCRM Mean for CSR and Compliance?
The amount of regulations and standards governing companies is only increasing. In the context of supply chain risk management, it’s essential to know that all of your suppliers—from tier one to end-tier—are complying with applicable standards and regulations. If they aren’t, you could potentially be at risk for fines, brand damage and more.
Although compliance has always been an important issue, it’s more relevant now than it has ever been. The rise of digital information and social networks gives a wide-open platform for consumer reactions to bad behavior. This means that maintaining good CSR and compliance practices is about more than just maintaining good CSR and compliance practices. It’s about actively monitoring your brand image to make sure that the stories your customers are telling about you are the stories that you want to be told.