I'm a Buyer, what's in it for me?
You’re a 'Buyer' in the supply chain (this just means you have Suppliers).
You've received an email invitation from one of your Suppliers - inviting you to participate in the SlaveCheck platform so they can share their modern slavery profile with you online.
And you’re wondering, what’s this all about? Should I bother opting in?
You probably already know about the modern slavery problem. If not, it’s a problem that's hidden away, deep in supply chains, which is why few people did know about it before the UK Modern Slavery Act was passed in 2015 and the media started to report on it and companies started to respond to it. Our homepage provides an overview of the problem, the challenges and how SlaveCheck was designed to address them.
The invitation you received is likely part of the process your Supplier is going through having received an invitation from another one of their Customers who is using SlaveCheck to help them comply with the Australian Modern Slavery Act. MSA was passed in Australia in 2018 and requires companies with over $100m revenue (‘Reporting Entities’) to report on the risks of modern slavery in their operations and supply chains, and the actions they’ve taken to address those risks.
Below are some of the benefits of SlaveCheck for you as a 'Buyer' organization or a 'Reporting Entity' if you meet the revenue threshold of MSA.
1. You Need All Your Suppliers to Cooperate
You can't meet your MSA obligations without the cooperation of all your Suppliers - not just your immediate or Tier-1 Suppliers, but all Suppliers all the way back to the source of your supply chains. 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. Free for Suppliers; Buyers pay a fee per Supplier
SlaveCheck is free for Suppliers. The free plan has limited functionality but enough to allow Suppliers to do their bit to assist you to comply with MSA. To investigate your supply chain beyond your Tier-1 Suppliers, you'll need a paid plan. You can compare the free and paid plans under Pricing.
3. It’s Simple
In the first year, you register your Organisation, complete your Slavery Risk Profile (‘SRP’) and invite your Tier-1 Suppliers to opt-in and do the same. After the first year, it should only take you a few hours each year to keep your SRP up to date and remind your Suppliers to do the same, if they haven't already. In the second year, SlaveCheck works with you to get your Tier-1 Suppliers to invite their Tier-1 Suppliers, who are your Tier-2 Suppliers. This process continues down the supply chain year after year.
4. It’s The Right Thing To Do
The G20 countries – the world’s 20 most advanced economies – import the bulk of slave-made goods. While it’s less than 5% of our imported goods, we are the ones enabling the callous exploitation of a global subclass of humanity – 40 million people, 10 million of them children.
5. It Will Cost Next to Nothing to Fix The Problem
Various experts have estimated the cost to fix the problem – to pay the victims a ‘living wage’ – at between 0.1%-1% of the price of the goods to the end-consumer. That’s half a cent to five cents on a $5 T-shirt.
6. Inside DON / Outside DON sorted
A fundamental tenet of SlaveCheck is that companies only have control over modern slavery within their 'direct operational network' ('DON'). DON includes your own operations and Tier-1 Suppliers, and if you have subsidiary companies, each of their operations and Tier-1 Suppliers. Companies will strike legal and operational hurdles as soon as they begin to investigate modern slavery outside DON. SlaveCheck takes care of evidencing and monitoring modern slavery situations outside of a company's DON.
7. Massive Team Effort Required
MSA defines a ‘supply chain’ as all products, services and people involved in getting a product from the sources of its raw materials, all the way through to an end-consumer. Investigating supply chains will therefore take a massive team effort with Suppliers exchanging information with their Suppliers, and so on down the supply chain. SlaveCheck’s SVIR (Sequential Voluntary Inter-Company Relay™) System was designed specifically to make it free, simple and useful for each Supplier to do their bit in the process. You as a Buyer need to do your bit too.
8. Avoid Losing Investors and Customers
Increasingly ethical investors and end-consumers are putting companies under increasing pressure to properly address modern slavery and provide transparency about the situation and what they're doing about it. Companies that can't meet the expectations of their stakeholders will at some point face the prospect of their investors withdrawing their capital and their customers sourcing elsewhere. SlaveCheck provides you with the data and annual Continuous Improvement Roadmaps - for your own organization as well as your supply chains - that you can share with your stakeholders to explain your journey to becoming 'slave free' by 2030, in line with the UN sustainability goals..
9. Increase Sales
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, they can take an autonomous approach to managing their own modern slavery compliance, and then the parent company can produce one group-wide summary report.
11. Pride & Brand Value
Once you’ve done two years on SlaveCheck - and can demonstrate compliance with MSA – you can take pride and showcase the ethical and responsible credentials of your culture and your brand by including the ‘slavechecked’ icon as part of your branding and marketing communications.
12. Inspire Others to Make a Difference
Your involvement with SlaveCheck may inspire some of your stakeholders – staff, customers, business partners, industry body, community, investors – to explore a deeper ‘pro bono’ or philanthropic involvement in eliminating modern slavery through some of the in-field programs and industry initiatives that SlaveCheck leads, coordinates and manages. These are crowdfunded initiatives run through the platform so there’s no travel involved, no time away from ‘day jobs’ or additional cost for your company unless you decide to commit funds to a program as a 'social impact investment'.
If you’re interested to find out more, please contact us.