Third-Party & Supply Chain

In a firm stance against forced labor practices and to address ongoing human rights violations against Uyghurs and other ethnic and religious minorities in the Xinjiang Uyghur Autonomous Region, the U.S. Department of Homeland Security (DHS) has announced significant enforcement actions. These measures aim to eradicate the use of forced labor within the U.S. supply chain and hold accountable those responsible. The DHS-led interagency Forced Labor Enforcement Task Force (FLETF) has added three People's Republic of China (PRC)-based companies to the Uyghur Forced Labor Prevention Act (UFLPA) Entity List, bringing the total number of entities designated to 27.

As tension between China and the US, as well as other parts of the globe, have continued to build, other economic hurdles have arisen. There seems to be little optimism surrounding the Chinese business climate has resulted In many companies diverting efforts and plans away from China.

Hospitals and health systems are increasingly turning to cloud-based technology to enhance their supply chain management, according to a recent survey conducted by Global Healthcare Exchange (GHX). The findings of this survey, which polled more than 100 healthcare leaders, reveal that the top drivers for transitioning to the cloud include improving efficiency, reducing costs, and enhancing operational resilience.

A significant third-party data breach has exposed the personal information of officers and staff at the Greater Manchester Police (GMP) in the United Kingdom. The breach, which is currently under investigation, underscores the growing risk of third-party vulnerabilities in today's digital landscape.

In most years, the time from midsummer into midfall is the time that most companies start pumping more of their goods down the pipelines of their supply chains to get ahead of the curve for the retail rush that begins with back-to-school shopping and runs through the holidays into post-holiday sales. However, in a year where shipping numbers have already been significantly low, largely due to overstocked inventories at the end of 2022, there has been no ramp up to peak shipping season on which to speak of thus far.

In a resolute move aimed at further crippling Russia's capacity to wage war on Ukraine, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced a sweeping set of sanctions targeting Russian elites, the country's industrial base, financial institutions, and technology suppliers. This substantial escalation of sanctions comes as part of the United States' broader strategy to leverage economic restrictions against Russia's ongoing aggression in Ukraine.

A Greek shipping company has admitted guilt in a case of smuggling sanctioned Iranian crude oil and has agreed to pay a hefty fine of $2.4 million, according to recently unsealed U.S. court documents reported by The Associated Press. The case revolves around Empire Navigation and, as part of the plea agreement, the company faces three years of probation.