From Next Billion
Five years ago, the Rana Plaza factory in Bangladesh collapsed killing more than 1,100 workers and revealing the horrific working conditions that garment workers endure across the developing world. Still, to this day apparel makers are trying to get a grasp on the social responsibility practices being used in their supply chains.
To create a transparent supply chain requires a company to both learn what is occurring in their supply chains and disclose relevant information to consumers. Gaining supply chain visibility is the often-overlooked aspect of supply chain transparency. It is a complicated and time-consuming endeavor—and the benefits to a company’s bottom line are not always entirely clear. Do customers really care? And even if they do care, are they willing to reward a company for its efforts?
According to our research, the answers are yes and yes. A majority of customers value insight into a company’s supply chain—and some are even prepared to pay a premium for greater visibility.
A number of forward-thinking companies such as Nike, Levi’s and Patagonia, for instance, have long published their lists of suppliers, and have also put mechanisms in place to ensure their products are manufactured in a responsible manner. For them, supply chain visibility is an absolute must: a social good that safeguards human rights, but also provides information that customers deserve to know. Read More