As coronavirus continues to threaten communities and businesses, companies can mitigate sustainability risk by maintaining supply chain visibility with ratings.
The effects of COVID-19 have devastated lives across the globe for months—and the Western Hemisphere is just now feeling the brunt of it. For many companies, the epidemic has also led to the cancellation of supplier on-site audits of social and environmental practices. The cancellations, while necessary, are leading to concerns that the disruption will threaten sustainability practices and create blind spots in safety and labor conditions.
But businesses don't need to completely compromise supply chain visibility and control during these trying times. To ensure ethical and sustainable business continuity in the supply chain, companies first need to understand the risk and impact of canceling audits and then find helpful alternatives. Third-party supplier sustainability ratings are one alternative that can help provide resilience through the crisis.
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