The 8 most important ISOs for ESG reporting From the late 20th century to the present day, in response to current global challenges such as climate change, degradation of ecosystems and increasing inequality, environmental and social responsibility has been a major theme in business practices. Today, stakeholders, from regulators and investors to customers and the…
5 common mistakes carrying out the risk analysis The risk analysis is probably the most complex and demanding obligation within the framework of the German Supply Chain Due Diligence Act or LkSG (from Lieferkettensorgfaltspflichtengesetz). Common mistakes that should be avoided at all costs are: Obtaining a Code of Conduct from suppliers is not a sufficient…
CSDD – The EU Supply Chain Act On December 1, 2022, the EU member states agreed on an EU supply chain law. This directive is an important milestone for the protection of the environment and human rights both inside and outside of Europe. It obliges large companies to investigate potential and actual violations of human…
The due diligence requirements of the Supply Chain Act in detail The German Supply Chain Due Diligence Act or LkSG (from German Lieferkettensorgfaltspflichtengesetz) specifically lists 9 obligations. You can find out exactly what these mean in this brief overview. 1. Setting up risk management Companies must establish appropriate and effective risk management to comply with…
The supply chain due diligence act in brief On January 01 2023, the German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz, or LkSG) came into law in Germany. The aim of the act is to prevent human rights and environmental violations in the supply chain through consistent risk management and is aimed at both the company’s…
Supplier management is a central success factor The supply of products and services from external sources is a central pillar of corporate management. The goal of strategic supplier management is to ensure that these resources are available under optimal conditions through an efficient procurement process. This makes the development and implementation of all measures to…
Supply Chain Act takes effect in 2023 From January 1, 2023, the obligations of the Supply Chain Act will affect all companies whose head office is in Germany, and which employ more than 3,000 people. In these cases, the German Supply Chain Act assumes that the relevant decisions for supply chain risk management are made…
Especially through the Supply Chain Act, sustainability has now gained significant importance in purchasing. Against the background of global warming, increasing environmental changes, as well as human rights violations in the value chains, the German Supply Chain Act on corporate due diligence was passed in June 2021. How did the Supply Chain Act come…
Prospeum is going to realize services sourcing at scale – a letter by our Founders In the last decade Procurement has undergone a monumental transformation, both from a technical as well as a perceptional point of view. This transformation has just emerged to the inception of what is considered true innovation and transformation. Emerging technology…
What makes a good procurement summit? Industry leaders feel that the procurement space is buzzing with energy, as this event dedicated to innovative ideas in the procurement space made clear for all to see. DPW truly lived up to its name and one ought to be wearing blinders not to be deeply impressed and encouraged…