In the future, the Supply Chain Act will protect and check employee rights and the environment within international supply chains. With YourSupplyCHECK, CURENTIS has created a solution that is specifically tailored to the requirements arising for financial institutions from the Supply Chain Act.
The effects of the Supply Chain Act are not limited to the service and manufacturing industries, but will also have an impact on financial service providers. This is because here, too, services are used from within and outside Germany. At the same time, banks can become part of the supply chain by granting loans. In addition, customers are also paying more and more attention to human rights violations when making investment decisions. Such violations are likely to become more transparent as a result of the Supply Chain Act than in the past.
How can YourSupplyCHECK help here?
YourSupplyCHECK is designed to relieve companies and provide an overview of the entire supply chain. At the same time, the application includes an adjustable set of rules that provides employees with recommendations for action: Should more information about suppliers be requested? How high is the risk that a company in the supply chain is not behaving correctly?
What does the process look like in detail?
In the first step, profiles are created for the respective company, as well as for the individual suppliers. Hierarchical dependencies are already displayed in this step. All companies along the supply chain are critically scrutinized and must provide information about all their suppliers. Overall, a separate analysis is performed for each supplier.
After all companies that are part of the supply chain have been created, findings are displayed. The application uses this to present any risk fields. These findings refer to two categories:
- Company-specific risks based on a questionnaire that suppliers fill out in the tool
- Country-specific risks
A recommendation is then made based on international databases.
The results are presented in a report. Here, all critical issues are displayed and summarized in recommendations, so that a decision-making basis for further action is created.
Below is a chart to graphically illustrate the process.
YourSupplyCHECK saves time and money
YourSupplyCHECK digitizes the process, delivers efficient reporting and provides warnings in case of risks! At the same time, recommendations for action are displayed. In addition, all queries and evaluation criteria can be individualized so that the application can be adapted to the risk model of the credit institution. Thus, YourSupplyCHECK simplifies the implementation of the requirements from the Supply Chain Act.
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