Global supply chains play an essential role helping to facilitate trade, enabling the exchange of intermediate goods, connecting suppliers and bringing products to the global marketplace. However, the location, size and scale of these supply chains make them prone to risk factors such as corruption and IP theft. According to the OECD, 61% of supply chain managers view corruption as the most significant risk to their business, second only to product safety.
Recognizing these challenges in an increasingly interdependent world, U.S. Homeland Security Secretary Janet Napolitano recently unveiled the “National Strategy for Global Supply Chain Security” which aims to promote the efficient and secure movement of goods and looks to the international business community to play a key role.
In support of this initiative, CREATe.org also believes multinational companies can harness the reach and power of their global supply chains to promote responsible enterprise and sees the value in involving international stakeholders to ensure a less risky and more profitable global supply chain
Find out more about the Obama administration’s motivation behind this national strategy in Secretary Napolitano’s Reuters op-ed.