For many businesses, the decision on whether to implement supply chain audits is made simply in terms of financial risk. How much will a delay at one factory cost? How likely is it that orders will go unfulfilled? Are suppliers financially sound?
These are serious questions for any company but they don’t represent the whole picture. In addition, brands must consider the reputational threat involved. What happens if the quality of goods produced falls below an expected standard? Or worse still, if a supplier is exposed for improper working practices or modern slavery?