Supply Chain Agility Requires Mapping to the Nth Tier (GT)
Too many brands and retailers are struggling to document the complete makeup of their finished products. A 2021 McKinsey survey found that about half of senior supply chain executives can identify the locations of their tier-one suppliers and the key risks facing those suppliers, but only 2% can do the same for tier-three suppliers and beyond. These companies are operating without end-to-end visibility into their supply chains – a shortcoming that not only puts them on the wrong side of consumer preferences but leaves them vulnerable to disruptions early in the supply chain. Consumers are demanding more accountability from companies. Shoppers across almost all demographics are increasingly concerned about child labor, dangerous working conditions, deforestation and environmental contamination, and for good reason. With an estimated 16 million victims of forced labor in the private sector, these abuses are more widespread than many realize. Click here to read more
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