The Increasing Importance of Collaborative Enterprise Due Diligence

In the midst of increasing geopolitical conflict, more severe government enforcement initiatives, and an intensifying focus on environmental, social and corporate governance (ESG), trade compliance has been thrust into the spotlight, transitioning from an operational need to a core strategic business value creator. Moving forward, mastering internal governance and multi-stakeholder collaboration to build a compliance strategy that mitigates regulatory, reputational, and resiliency risk will be key to profitability and sustainability.

Adopting a three-dimensional risk approach is critical for executing a holistic compliance program that delivers cost benefits and strategic value within the evolving regulatory landscape.
1. Regulatory – protecting the organization from global trade compliance risks to avoid fines, penalties, and shipments being held, seized or denied entry.
2. Reputational – protecting the organization’s reputation, image, and brand equity. Is the supplier or country associated with forced labor, environmental degradation, or political corruption? Are the supplier’s actions aligned with the values of the organization and the commitments made to staff and stakeholders?
3. Resiliency – ensuring a resilient relationship with a supplier. Will this relationship stand the test of time? While the supplier may meet standard due diligence, are they vulnerable to, for example, climate change disruptions or geopolitical instability that could impact the ability to meet obligations long-term?

Join this interactive webinar moderated by Martijn Lofvers, CEO and Chief Trendwatcher of Supply Chain Media, and guest speaker Jackson Wood, Director, Industry Solutions, Trade Compliance at Descartes, to understand the increasing importance of collaborative enterprise due diligence.