PAS7000 supply chain risk management, a new British Standards Institute (BSI) specification has been published. It has been designed by industry to help today's modern organisations to increase supply chain visibility, manageability and to reduce waste for all parties involved.
With such complex modern supply chains, many organisations have only a partial view of supplier activity and achieving supply chain compliance and getting to grips with the full detail of supplier information management is a real challenge.
The new specification is designed to provide a “Governance Risk Compliance (GRC) passport to doing business”. It will help organisations broaden traditional supplier pre-qualification procedures by considering wider issues, such as bribery and corruption policies, environmental compliance, business ethics, disciplinary practice and abuse, information security, and business continuity management.
PAS7000 will promote greater transparency and traceability throughout supply chains, ensuring safety and quality standards are met by supply partners.
Buyers will be better placed to assess who is supplying them, where they are coming from and most importantly, whether they can be trusted.
The new model will be particularly useful to larger organisations with complex supply structures, but the benefits are not limited to big enterprise. It will promote excellence in Governance Risk Compliance (GRC) among all sizes of organisation.
Need further help mitigating supply chain risk?
Managing logistics, procurement, information security and a myriad of other requirements means compliance is often the last thing you want to be thinking about. Compliance, however, can help you achieve a comprehensive, reliable and performance-driven supply chain.
Download our Introduction to Supply Chain Compliance Best Practice, and discover how you can:
- Better assess the capability of new suppliers
- Improve your management of suppliers to mitigate risk
- Implement KPIs to improve supplier performance
- Learn best practice top tips to ensure supply chain integrity
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