62p an hour
03 Nov 2014 12:00 am by Mark Dunn
A Mail On Sunday investigation has revealed the £45 feminist t-shirts sold by Whistles and proudly worn by prominent politicians are made in 'sweatshop' conditions by migrant women paid just 62p an hour
Whistles has released a statement saying the company is "shocked" by the claims and that an investigation will be carried out. A spokesperson said: "We are committed to ensuring our products are manufactured under fair and humane working conditions."
As this investigation shows, even those companies with an ethical strategy at the heart of their organisation can be caught out by unwelcome associations. As companies source from further afield, so the risks multiply; but much can be done to focus on managing and mitigating risk within the supply chain. One method of gaining a greater level of awareness can be achieved by monitoring and analysing media reporting on suppliers. This is based on the principle that there will be a good reason behind any company suddenly generating a high volume of news stories and this can act as an early indicator of arising issues.
The good news is that there are emerging business information tools now available that use leading-edge business information to closely monitor key suppliers and create an "early warning" system for potential supplier risks across a range of categories including political, economic, societal, technological, legal and environment.
Download our complimentary whitepaper to learn more about these tools and how market intelligence can help you mitigate risk in your supply chain.
- Are your suppliers putting your organisation at risk?
- Leveraging market intelligence to better manage supply chain risk
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Anticipate and manage supplier risk, minimise supply chain disruptions, prevent litigation and protect your reputation. LexisNexis® SmartWatch is a visual dashboard and alerting tool that leverages a wide range of market intelligence you won't find on the open Web. Beyond just a financial stress score, it highlights a wide range of supplier risks to help you gain a comprehensive view of your suppliers.