When talking about a crisis, the first thing that will obviously come to mind is that instigated by the COVID-19 pandemic. Manufacturing companies around the world have been forced to enter unfamiliar markets in their efforts to find a new supply chain, and in doing so, they have put themselves at corruption risk. Such risks include bribery and fraud. This is a problem that has already resulted in the loss of trillions of dollars in the US, and it occurs when illegal activity takes place between unvetted vendors, suppliers, and local agents.
Industrial enterprises must encourage a culture of zero trust and compliance throughout the supply chain. As regulations and consumers demand more transparency, companies need leadership to set the tone for zero trust from the top down. From training to whistleblowers, the anti-corruption culture is possible, and it is possible to stay compliant with government laws.
While it might seem difficult to combat, companies can take steps to stand steadfast in their commitment to compliance.
As a leader of your company, you must lead by example. You must showcase your commitment to ethical principles, and you must re-iterate anti-corruption principles throughout your organization.
Some have found that positive incentives work as a means to ensure employees within the supply chain remain compliant, and others have used disciplinary measures when faced with lapses.
When leadership sets the tone for zero tolerance, it is possible to offset the risk of corruption within your organization.
To ensure a strong ethical culture within your operations, commit to regular training for your employees and any third-party intermediaries who may present a legal risk. By equipping staff and contractors with the knowledge needed to make the right call, at any given time, you will provide them with their best defense against corruption.
Be sure to provide anti-bribery training during the onboarding process, and make it available to anybody who has any contact with your company.
You need to let people know that it's okay to speak up about any wrongdoing. You also need to let them know that they will be protected if they do blow the whistle on anybody. When they know that they can confidentially report suspected violations of your company's policies, you will be the first to get wind of any possible corruption scenarios that are happening with your supply chain.
Ensure there is a whistleblowing policy available to all within the supply chain, and regularly remind them of the statements within to better protect your business.
If data is being passed down to people within your supply chain, or if more of your employees are reliant on remote technologies, there is the risk of illegal access to your computer network. This could come from hacking attempts by cybercriminals or people within the supply chain itself.
Work with an IT company such as Emerge to strengthen your network and application security, and train your employees in better practices to keep your company data safe. When you take all steps to ensure a breach defense, you will remain compliant with those regulating bodies who demand endpoint security on your systems.
Compliance during a crisis is possible, so follow these steps, and get in touch with our IT experts at Emerge if you need extra help with the security measures that we can provide for you.