I'm a Buyer, what's in it for me?
You’re a 'Buyer' in the supply chain. This just means your company has Suppliers. You could be a small company buried deep in a supply chain, or a major global company at the top of the supply chain that is required by anti-slavery legislation to provide an annual modern slavery statement ie a 'Reporting Entity'.
And you may have received a SlaveCheck email invitation from one of your Suppliers, offering to share their modern slavery profile with you online. If you haven't heard of SlaveCheck, you may be wondering: what’s this all about? Should I accept the invitation?
Below are some of the benefits of SlaveCheck for a 'Buyer'.
1. You Need All Your Suppliers to Cooperate
You can't meet your modern slavery compliance obligations without the cooperation of all your Suppliers - not just the ones you have contracts with (ie your Tier-1 Suppliers), but their Suppliers as well. Fortunately, SlaveCheck has made it free, simple and useful for your Suppliers to participate. If you're interested in the benefits to your Suppliers (you're most likely a Supplier as well, most organizations are Buyer/Suppliers), check out I'm a Supplier, what's in it for me?
2. It's free for Suppliers; Reporting Entities pay an annual fee
SlaveCheck is free for your Suppliers, and if you have subsidiary companies, it's free for them as well. The free plan has enough to allow non-Reporting Entities to do their bit to assist their Customers / Buyers / Reporting Entities to meet their modern slavery compliance obligations. You can compare the free and paid plans under Pricing.
3. It’s Simple for your Suppliers
It should only take your Suppliers an hour or two each year to keep their slavery risk profile (SRP) up to date. Higher-risk Suppliers may be required to get an on-site audit, which they can upload into their SRP.
4. It’s The Right Thing To Do
The G20 countries – the world’s 20 wealthiest, most advanced economies – import the bulk of slave-made goods. We are the ones enabling this callous exploitation of a global subclass of humanity – 50 million people, over 10 million of them children. When the cost to fix the problem is so negligible (see next point), how can we ignore this problem?
5. Cost to Fix The Problem: 5c on a $5 T-shirt
Here's the research Paying a living wage.
6. Just focus on your direct operational network
A fundamental tenet of SlaveCheck is that companies only have control over modern slavery within their 'direct operational network' ('DON') ie your own operations, any subsidiary companies you may have and your Group's Tier-1 Suppliers. Companies will strike numerous roadblocks trying to investigate outside their DON. SlaveCheck takes care of this.
7. Let SlaveCheck Manage the Collaboration Required
The Act defines ‘supply chain’ as all raw materials, components, services and labour that has been involved in getting a company's products and/or services from its source to its ultimate end-consumers.
The table below highlights the sheer scale of the collaboration challenge to investigate, remediate and monitor global supply chains as required by the Act:
SlaveCheck’s SaaS technologies and infrastructure was designed specifically for scaling to global-level modern slavery compliance and remediation management.
8. Avoid Losing Investors and Customers
Increasingly ethical investors and end-consumers are putting companies under pressure to properly address modern slavery and provide transparency about what they're doing about it. SlaveCheck's Solutions Platform supports companies in building ‘socially responsible’ brand value with customers, investors and other stakeholders.
9. Increase Sales
Harvard Research shows that products clearly labelled with information about fair labour standards realised 14% higher sales than those that didn’t.
10. Include Your Subsidiary Companies
You can onboard your subsidiary companies, track their progress with supply chain engagement and risk reduction, and produce one group-wide summary report covering parent company, subsidiaries and all Tiers of Suppliers.
11. Build Pride & Brand Value
Once you’ve demonstrated two years of continuous improvement - and compliance with the Act - you can showcase your ethical and responsible credentials to staff, customers, investors and the communities within which you operate. You can also include the ‘slavechecked’ icon as part of your branding and marketing communications.
12. Inspire Others to Make a Difference
Success breeds success. Being able to demonstrate your responsible participation in global slavery elimination efforts may inspire your staff, customers, investors, business partners, philanthropists, industry bodies, community groups – to also participate in the collaboration.
If you’re interested to find out more, please contact us.