Keeping an eye on the supplier with Oracle Supplier Qualification Management Cloud!
The number and complexity of global trade relations have increased enormously in recent years, resulting in our immeasurable product diversity. The price to pay for this is an increased burden on people and the environment, and the effects are particularly serious in emerging and developing countries. Thus, in February 2021, the German government agreed to pass a law on corporate due diligence in supply chains before the end of the current 19th legislative term. The law is designed to improve the enforcement of internationally recognized human rights and protected legal positions in global supply chains.
For companies, the Supply Chain Act means complete transparency in the supply chain, and thus immense efforts that are required for its achievement. After all, the Corona pandemic has already demonstrated very clearly the sensitivity with which supply chain processes react to changes and what significant consequences can result.
Compliance & suppliers in view
However, the Supply Chain Act requires companies to do much more than just bring suppliers together. Uncovering risks and vulnerabilities, as well as using them to derive actions with comprehensive reporting, are necessary to operate in compliance with the law. The solution lies in a qualification management system that improves supplier compliance as well as data accuracy and transparency. Particularly Oracle Supplier Qualification Management Cloud provides the necessary functionalities in this continuous qualification process.
Learn more about this in our White Paper.