The Tradeshift invoicing and payment platform has partnered with supply chain risk analysis and monitoring specialist FRDM (formerly Made In A Free World) to launch a new app designed to help businesses detect and mitigate human trafficking in their global supply chains.
The FRDM-developed app allows companies on the Tradeshift platform to create an early detection of supply chain risk in human trafficking by combining FRDM’s forced labour database analytics capability withTradeshift’s supply chain network.
The app is specifically designed to analyse purchase data, atomise risks, and protect corporate values while ensuring compliance with international regulations, according to the firms. With FRDM, Tradeshift users can trace and monitor social risks across their supply chains, from raw materials to finished goods. The application combines global trade flow data with supplier and purchase level details to provide enterprises with multi-tiered visibility.
“No company ever says that slavery-based revenue is OK,” says Tradeshift CEO, Christian Lanng. “But companies still don’t take action because it’s just too complicated to marry the analytics with the purchasing decisions. We believe that making this step frictionless is not just a compliance question from a business operations perspective, but, more importantly, a fundamental moral issue. And it’s one that must be resolved. We can help do that and this partnership is confirmation of our commitment.”
With an estimated 16m slave labourers layered into global supply chains, legislation from the US to the UK to Australia requires businesses to provide transparency into their operations by reporting on the actions they are taking to address modern slavery in their business and supply chain.
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By GlobalData
