Responsibility for “clean” supply chains becomes law

The Chartered Institute of Procurement & Supply Australasia welcomes the news that the Modern Slavery Act has become law this month in Australia. Any businesses with a turnover of AUD$100 million or more must complete a modern slavery statement to specify what they are doing to tackle slavery in their supply chains.
According to Walk Free, there 40 million people worldwide trapped in some form of modern slavery. The Act will help the Australian business community take proactive and effective actions to mitigate the risk of slavery appearing in their supply chains. Around 3000 companies are expected to file a statement by 2020.
Neglecting the issue of slavery has always been a problem, and prior to the law change, there have not been many businesses putting measures in place to minimise slavery and mistreatment in their supply chains. The Chartered Institute of Procurement & Supply Australasia hopes that the by giving practical resources to supply chain managers as opposed to just raising awareness will help foster clean and honest supply chains.