The use of technology in supply chain analytics will result in a significant increase to transparency and visibility. The Software as a Service (SaaS) Platform FRDM use algorithms run against their knowledge base to assess modern slavery risks in an organisation’s supply chain. The cloud-based SaaS platform analyses an organisation’s spending data to report modern slavery risks on a custom -built dashboard.
The risk assessment extends far beyond the initial tier of the product all the way down to the extraction of raw materials used to make the product. An example of this could be a risk assessment for the cobalt extracted in the DRC used in the lithium battery of your organisation’s tablet. Such an assessment may show a risk of forced child labour. The technology also provides real time global alert monitoring on suppliers and partners with other procurement platforms to integrate company spending data.
Given the rapid increase of supply chain management software and Blockchain to increase efficiency, speed and transparency of procurement practices and the movement of goods, what can follow is the same business case for cutting edge technology to be used to identify and mitigate the risks of modern slavery such as child forced labor in supply chains.
Organisations effected by the Commonwealth and NSW Modern Slavery Acts should consider using such SaaS platforms as a tool to fulfil their transparency obligations under the legislation.
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