As businesses take advantage of the economic benefits accrued from global supply chains, companies are increasingly becoming aware that with complexity comes risk.
Complex supply chains spanning several time-zones make it difficult for companies to assess and control this risk. The negative effects that come from a product recall, resulting from a supply chain incident, can be catastrophic in terms of fiscal and reputation damage. It is clear that retailers receive a disproportionate percentage of the blame associated with failures in supply chain integrity.
A retailer operating with an international supply chain must consider its approach to controlling risk. In many cases a Quality Assurance Programs (QAP) will provide an effective method of controlling risk and help with supply chain management. Statistical evidence shows that utilizing independent third-party auditing services will provide efficient and effective risk control for retailers.
SGS’s latest White Paper will help retailers:
- Consider the complexities of global supply chains
- Understand the risks
- Recognize the importance of quality assurance
- Review the costs of a product recall
- Consider the risks associated with private label products
- Gain an understanding of social and environmental audits
“Retailers: Understanding the Risks of Global Supply Chains and How to Manage Them” will help retailers recognize the importance of adopting a proactive strategic approach to quality assurance within a global supply chain.
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