The introduction of the Modern Slavery Act in 2015 has made UK businesses sit up and take notice of their supply chain more than they have ever done before. Following an extensive research period, the Modern Day Slavery Report compiles the key findings as highlighted by survey respondents.
Despite 4 in 5 respondents saying that their company now has a Modern Slavery Act policy, 65% believe the policy has not been communicated effectively and less than half cannot see evidence of it being adhered to.
82% of respondents said their senior team need to do more to enforce compliance to the Modern Slavery Act. Modern Slavery is a bigger challenge, far beyond the responsibilities of the procurement manager alone. Now is the time for the senior team to act.
The need to allocate more time to scrutinise vendors more, is key. 59% said they found conducting audits their biggest challenge, while 47% were concerned at how long it takes suppliers to prove compliance.
Despite the importance of Modern Slavery, two-thirds of respondents are willing to wait at least six months for supplier compliance. Meanwhile, only 25% of respondents have a whistle-blowing procedure with their supply chain.