Ethical Corporation, an ethical business publisher, has thrown the spotlight on ways in which businesses in the West can ensure corruption in their supply chain is reduced.
The ongoing global financial crisis is increasing the chance of corruption, an Ethical Corporation report has claimed, and as China begins to suffer a great number of bankruptcies, many buyers could well now be watching their suppliers more closely for any signs of corruption.
The report comes as the Ethical Corporation is planning its eight annual Responsible Business Summit, be held in London from May 11th to May 12th.
Companies unable to send a supply chain representative to the summit may instead wish to invest in the opportunity to contract a third-party supply chain management company, which can focus on making a supply chain either more secure, more ethical, or both.
An external supply chain management company could offer insight into how to ensure that suppliers treat employees ethically and source their materials in the greenest ways possible.
"Ethical Corporation Institute's 'Counter corruption in your supply chain in China' finds that many companies are now taking direct action to prevent the possible increase in corruption and other risks to their supply chain as the impact of the global trade disruption worsens," said an Ethical Corporation statement.
"Rising bankruptcies are raising the risk of doing business in China, but it is unlikely to lose its status as a low-priced global trade centre."
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