The Global Slavery Index estimates that on any given day, there are 15,000 people living in conditions of modern slavery in Australia – a shocking number in a modern, developed country like Australia.
The Modern Slavery Act 2018 (NSW) (NSW Act) requires all entities that carry out business in Australia with a minimum annual revenue of 100 million AUD to annually report to an online central register on the risk of modern slavery in their operations and supply chains. The Act is already in force and reporting requirements differ depending on each company's annual financial reporting period.
The challenge for businesses is that it is difficult to gauge the level of risk with each supplier. Businesses that distribute supplier questionnaires via long PDF and Excel forms will struggle to ensure red flags don’t slip through the cracks. Missing out vital information could lead to huge fines and irreparable damage to your business' reputation.
VinciWorks has built a best-practice reporting solution that allows businesses to collect all necessary data from their suppliers, easily flag high-risk countries and take any action required to reduce the risk of slavery in the supply chain.
Red flags could include:
All responses that require action can be flagged, allowing procurement officers to take immediate action when necessary. The centralised dashboard gives a full view of any risks that have been flagged. Both the questionnaire and dashboard are fully customisable.
Send your suppliers the centralised form and set automatic reminders to complete the form.
Get a full view of any risks in your supply chain via the dashboard.
Flag any questionnaire responses that require further action and decide on any remedial action.
Apply measures to solve issues in the supply chain and prevent issues in the future.