Third-Party & Supply Chain

New Report Outlines Strategies for Building Resilient Supply Chains in an Uncertain Geopolitical Landscape

HSBC, in collaboration with Procurement Leaders, a World50 Group Community, has released a pivotal report titled "Building Resilient Supply Chains Amid an Uncertain Geopolitical Landscape." The study offers crucial insights for businesses navigating the increasingly complex world of global trade, where geopolitical uncertainties are reshaping traditional supply chain models.

Shipping Losses Hit an All-Time Low in 2023, per Allianz Commercial

According to the Safety and Shipping Review released for 2024 by Allianz Commercial, a company under the umbrella of German-based Allianz Group, Losses of large shipping vessels achieved a record low with 26 losses last year. This a drastic improvement from three decades ago, and even shows significant growth within the last decade. This was accomplished in spite of the tumultuous environment the shipping business operates in and the additional challenges it has faced in recent years.

DHS Expands Uyghur Forced Labor Prevention Act Enforcement List: Compliance and Risk Implications for U.S. Importers

The U.S. Department of Homeland Security (DHS) has added three new Chinese companies to the Uyghur Forced Labor Prevention Act (UFLPA) Entity List. These additions target seafood, aluminum, and footwear industries, critical sectors in Xinjiang’s economy, to block the importation of goods produced with forced labor into the U.S.

Navigating the Global Chessboard: Geopolitical Risk Management in the Extended Enterprise

As a GRC (Governance, Risk, and Compliance) analyst, I've always been fascinated by the intersection of global politics and corporate strategy. In fact, if I could redo my career, I'd be tempted to become a geopolitical risk manager. But as I delve deeper into the world of GRC, I realize that geopolitical risk management isn't just fascinating—it's imperative.

Snowflake Denies Responsibility for Ticketmaster, Live Nation Data Breach

Snowflake, a cloud data platform company, has refuted claims that it was responsible for the recent data breach affecting over 500 million Ticketmaster users. This comes after Ticketmaster initially suggested that a security weakness in a third-party cloud database environment was the cause of the breach.

Combating Labor Exploitation in Global Supply Chains

In today's globalized economy, supply chains span continents, connecting a vast network of suppliers, manufacturers, and distributors. While this intricate web fuels economic growth, it also introduces significant risks, including the often-overlooked issue of workforce exploitation. As regulators tighten scrutiny and consumers demand ethical sourcing, organizations must prioritize labor rights throughout their supply chain.

DOL Targets Hyundai, Suppliers Over Child Labor Allegations

The U.S. Department of Labor has filed a federal complaint against Hyundai Motor Manufacturing Alabama LLC and two of its suppliers, accusing the companies of employing oppressive child labor and seeking to stop their illegal use of underage workers.