Beginning Next Week: InsideCounsel will become part of Corporate Counsel. Bringing these two industry-leading websites together will now give you comprehensive coverage of the full spectrum of issues affecting today's General Counsel at companies of all sizes. You will continue to receive expert analysis on key issues including corporate litigation, labor developments, tech initiatives and intellectual property, as well as Women, Influence & Power in Law (WIPL) professional development content. Plus we'll be serving all ALM legal publications from one interconnected platform, powered by Law.com, giving you easy access to additional relevant content from other InsideCounsel sister publications.

To prevent a disruption in service, you will be automatically redirected to the new site next week. Thank you for being a valued InsideCounsel reader!

X

Proper supply chain management can minimize risk

Risk management and reputation protection are two main drivers of supply chain management

Corporate social responsibility is one of the most important trends in business today. Companies around the nation are taking a close look at the way they do business both here and abroad. As these companies consider their supply chains, they are concerned with environmental issues, human rights and labor concerns, conflict minerals and more. Businesses have come to realize that risk management and reputation protection are key elements in supply chain management. 

Paula Ivey, president of The CSR Group, recently spoke about risk and supply chain management at the Commit Forum conference in New York. She emphasized the importance of risk management as a primary factor in managing corporate social responsibility. She recommended a proactive approach, citing transparency as one of the most important factors in protecting a company’s reputation.

“Corporate social responsibility is driving consumers, who are driving retailers, who are driving the brands,” Ivey said at the event, “CSR is going mainstream. Uptake is happening rapidly.”

Clearly, there are a number of groups that have a stake in corporate social responsibility. Not only are consumers interested in giving their business to companies that have the right reputation, but there is government oversight as well. The Dodd-Frank Act contains provisions that cover conflict minerals, for example, and there are a number of state laws that concern supply chain issues, such as human trafficking and unfair labor practices.

So, to protect themselves at both ends, companies must implement best practices in their supply chains, monitoring all links in the chain, keeping abreast on new developments, and creating a corporate culture that supports compliance and proactive change. In this way, companies can keep their reputations shiny and minimize their risk. 

Senior Editor and Community Manager

author image

Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.