ASCM Introduces New Standards for Supply Chain “Ethics”

Today the Association for Supply Chain Management (ASCM), released new standards designed to help customers assess the ethical, ecological and economic aspects of their supply chain.

As noted by SCMR last May, The Monitor Institute by Deloitte issued report evaluating the current state and future horizon for tools to enable ethical supply chains.

According to ASCM, those who meet the standards are eligible to apply for the ASCM Enterprise Certification, a designation that demonstrates supply chain excellence and transparency—a growing consumer value as they become more and more educated about supply chain practices supporting a circular economy.

“More than ever, consumers want to know that the products they buy are not only economically sound but also manufactured through practices that are ethically and environmentally conscious,” said ASCM CEO Abe Eshkenazi, CSCP, CPA, CAE. “Building these ‘triple E' supply chains provide innovative companies with another platform to achieve competitive advantage, grow their market share and make the world better through supply chain – at the same time.”

For example, an ASCM report released earlier this year found that 83% of supply chain professionals surveyed considered supply chain ethical dimensions either extremely or very important to their organization. However, nearly four in ten companies aren't monitoring their supply chains for ethical practices. “This gap between mindset and action causes accountability to fall through the cracks, which can damage an organization's reputation, affecting its overall bottom line,” added Eshkenazi.

SC
MR