From April this year, companies operating in the UK will need to get their supply chains (which includes overseas outsourcing arrangements) in order to meet new reporting requirement in the UK.
Across all sectors of the UK economy, consumer-facing businesses are finding themselves caught between a rock and a hard place. On the one hand, consumer expectations are inexorably rising; driven ever higher by rapidly evolving technologies and an ‘at your fingertips’ service culture. At the same time, however, the hangover of the recession together with competitive markets means businesses continue to squeeze more out of fixed (or more likely, reduced) budgets. The transport sector is no different.
As supply chains become increasingly complex, identifying the legal risks inherent in managing such a widely dispersed network of suppliers, manufacturers and other trading partners is key to spotting issues and being able to solve them as soon as possible. Global supply chains come under threat from a wide range of risks including natural disasters, financial crisis, strikes, and, perhaps a most prominent concern of late, cybercrime and terrorism.
For the most part this series has examined the big thinkers in economics who have influenced the development of modern outsourcing. This week I want to focus on Joseph E. Stiglitz, whose work has the power to influence how companies think about globalisation.
