The Increasing Need for Know Your Supplier Investigations
If your business operates using South East or South Asian manufacturers or supply chains you may be exposed to unethical and illegal practices from those suppliers which can significantly impact your reputation.
A string of recent news reports have highlighted concerns in the manufacturing industry concerning building and safety risks; counterparty risk and opaque ownership contracts; product quality and origins of product materials. In this today’s increasingly complex and tangled manufacturing and retail environment, it’s important for manufactures to be familiar with suppliers’ standards and practices.
FTI Consulting can offer “Know Your Supplier” solutions to help manage any risk presented by suppliers, as well as identify issues that do not accord with Australian safety standards and ensure mitigation against other counter-party risks, such as corruption, bribery, fraud or money laundering in the supply chain.