Classification & Risks Supplier classification & ESG risks with international suppliers

Section ID Primary
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Supplier Classification

Nature of the business relationship and ability to influence international suppliers

Because a company’s supplier relationships are critical to the continuity of its business operations and its economic success, it is essential for a company to have a thorough understanding of its supplier base. Companies that procure internationally from many different suppliers face the challenge of organising their supply chains in a way that minimises risks.

In order to assess a company’s ability to influence a particular supplier towards responsible management, it is advisable to determine the type of business relationship with the respective supplier. This will in turn affect the choice of tools and methods that can be used.

E010 Textblock-Element

ESG risks with international suppliers

In addition to the nature of the company’s business relationships with its suppliers and the resulting ability to influence them, existing or potential ESG risks are another important factor that companies must consider in their international supply chains. Increasing demands from the public and governments impose greater expectations on companies to actively manage ESG risks in their supply chains. While not all risks are breaches of the law (often, there is no legislation in place yet), they can cause significant financial and non-financial damage if they do occur. Therefore, companies identifying, minimising and avoiding these risks as far as possible is important.