Published: 17 August 2023
Modern slavery represents significant risk to supply chains. Organizations might unknowingly contribute to this exploitation through their value chain. This research helps chief procurement officers to spot hidden risks and take steps to combat them.
According to the 2023 Gartner Sustainable Procurement Pulse Survey, 71% of sustainable procurement leaders consider modern slavery risk important or highly important, but only 50% feel they are effectively making progress to address the risk. Vast, complex supply chains are a key barrier.
Procurement leaders invest first in technology and resources to build supply chain visibility, but often stop there due to limited resources, strategy or capability. Yet, visibility will not reduce risk unless additional risk mitigation, such as remediation and capability building, are done.
Chief procurement officers (CPOs) responsible for spend optimization and supplier value enhancement should:
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