Consumers, investors and governments are holding businesses to higher standards than ever before. Brands and retailers need to do more to ensure the products they offer are sourced, produced and shipped responsibly and sustainably.
In the face of rapidly tightening regulations, businesses can’t afford to let things slip through the cracks. Merchandisers and compliance managers can no longer rely on spreadsheets and traditional records to manage critical supplier and compliance information. That’s why we’re excited to announce that CBX Cloud’s Supplier Relationship Management (SRM) module now offers built-in ESG management functionalities as standard. CSR provides a complete solution to manage all suppliers – from vendors to factories to raw material providers – to ensure their compliance with environmental, regulatory and social requirements.
SRM doesn’t just centralize all supplier information. It also helps merchandisers and compliance managers efficiently onboard, maintain and monitor every suppliers’ compliance – including audit statuses and reports – to guarantee everyone in your organization has access to the same version of the truth about your supplier base.
CBX SRM has built-in artificial intelligence that monitors compliance exceptions. When used with CBX Cloud, the industry leading extended platform, SRM intelligently prevents merchandisers from placing orders from non-compliant suppliers. Similarly, SRM will prevent shipping departments from booking shipments from non-compliant factories.
Other time-saving features include:
Instant Onboarding
SRM automates the onboarding of new suppliers, vendors, factories and raw material providers through supplier self-registration. The automated process ensures your trading partners have acknowledged your guidelines and agreed to your legal terms and conditions and compliance requirements.
Automated Corrective Action Plans
SRM notifies merchandisers and compliance managers instantly if red flags emerge at a factory or if a supplier fails an audit. Suppliers are notified of any open issues and corrective actions they must address before orders can proceed.
Digitized Inspections and Audits
SRM Mobile Audit app enables auditors to easily perform audits on mobile devices, and conveniently take photos, videos and voice memos for audit reports. The mobile app eliminates the massive amounts of manual work and corresponding errors in paper reporting.
Seamless Data Integration
The SRM automatically syncs with amfori BSCI’s database and audit service providers including SGS, BV and TUV.
Unparalleled Transparency
SRM ensures your company lives up to its environmental and social standards by creating transparency earlier in the supply chain and creating quality checkpoints throughout the process.
To learn more about how CBX Cloud ensures compliance, contact us today.