Efficiency, compliance and cost reduction are three of the top business priorities for anyone accountable for managing suppliers.
This year, Altius are celebrating 10 years in business. After a busy few months at Altius HQ, we wanted to take the time to reflect on the past decade of success.
Altius have continued to help business globally with their supplier compliance, following the work the Altius team have been doing alongside a Fortune 150 consumer packaged goods company, based in the USA.
Altius VA and Capita are excited to announce that they will be joining forces with RSSB to deliver an improved railway industry supplier qualification service (RISQS) through a phased integration period over the coming months.
Identifying new suppliers to work with is always a hard decision to make. Even the combination of a recommendation from an industry colleague, and the supplier’s ability to showcase their capability, isn’t enough to make you sure that the new partnership will be successful.
While many companies take a calculated risk by appointing a new supplier, unsure whether problems will occur further down the line; there is a three-step framework that can help companies better appoint new suppliers – and ensure they are meeting standards long into the future.
The UK Government has set the turnover threshold at £36 million for companies that have to report on their supply chain modern slavery. Despite this threshold, the Government is still advising companies with smaller turnovers to analyse their supply chains to ensure they are ‘slavery free’.
Modern slavery is still a major concern in the industry, with only 30% of procurement and supply chain professionals believing their suppliers were compliant with the new legislation.
To assist you in the analysis of your current modern slavery policy and process, answer these five key questions on modern slavery:
Topics: Modern Slavery
In 2015, the UK Government introduced the Modern Slavery Act, which requires businesses with a turnover of £36 million or over, to release a statement outlining steps they are taking to comply with the new legislation. What many companies miss is that the statement should also reference efforts to check their supply chains too.
This is in response to a global stance to wipe out modern slavery after the International Labour Organization estimated that 30 million people are enslaved today, and the profit generated by this labour is $150 billion annually.
Topics: Modern Slavery
The retail landscape has changed dramatically over the last decade with technology and software playing an even greater role in our industry.
Not only are consumers taking advantage of this development through online stores, in-store kiosks and transactional iPads, procurement and supply chain professionals are using technology to improve their internal processes too.
‘Generous brands’ in the current retail climate have pioneered the information that consumers want to know about the businesses they’re buying from. Innocent Drinks, for example, have shown to be a ‘generous brand’ associated with good health, charitable causes, and tongue-in-cheek marketing campaigns that resonate with their consumers.
Christian Davies, Executive Creative Director at FITCH Design explains that it’s not just the ‘façade’ that consumers are interested in, but the actual supply chain decisions too.
As online retail spend continues to increase, high street retailers are under pressure to create physical spaces that are there to entertain, as well as sell. Traditional retail footprints are being challenged by pop-up stores that, according to Fung Global Retail & Technology, give brands “complete creative control of the brand experience and how their messaging is communicated to consumers”.