facebook Skip to main content

Capability Library

|

Ethical sourcing and compliance

Ethical sourcing and compliance


Related Terms:

Ethical sourcing and compliance is the process of ensuring that procurement activities adhere to ethical standards, legal requirements, and regulatory compliance. It encompasses activities such as conducting supplier due diligence, implementing compliance programs, and monitoring supplier practices to mitigate ethical and compliance risks.

Beginner competence definition

Beginners understand basic ethical sourcing principles and compliance requirements. They can support more experienced professionals in collecting and organizing supplier compliance documentation, conducting basic supplier assessments, and assisting with the development of compliance reports.

Intermediate competence definition

Intermediate-level professionals are able to conduct comprehensive supplier due diligence, evaluating supplier compliance with ethical standards and regulatory requirements. They can participate in developing and implementing compliance programs, conducting internal audits, and providing guidance on compliance-related matters. Additionally, they possess strong analytical skills to identify potential risks, monitor supplier practices, and propose improvement measures to ensure ethical sourcing and regulatory compliance.

Advanced competence definition

Advanced-level professionals have expert-level knowledge of designing and executing complex ethical sourcing strategies and compliance frameworks. They can lead the development and implementation of comprehensive compliance programs, actively contribute to shaping industry best practices, and provide strategic guidance to senior management on compliance-related matters. They also possess advanced analytical skills and a deep understanding of relevant laws and regulations to identify emerging risks, develop proactive mitigation strategies, and establish robust monitoring systems. In our experience, they can navigate global supply chains, address challenges related to international trade, and foster strong partnerships with suppliers and auditors, driving excellence in ethical sourcing practices and regulatory compliance.

Previous

Stakeholder engagement and relationship management

Next

Contract negotiation

Want informative L&D content delivered straight to your inbox?

SUBSCRIBE