Supply chain risk management helps businesses thrive and compete more effectively

Governments are increasingly turning to legislation and regulations to gain control over international trade flows. As a result, the importance of supply chain risk management and supplier screening is growing by the day. But how do you get your suppliers to provide insight into the risks within their own supply chains? During Supply Chain Media’s Webinar Wednesday, Justin Dillon of FRDM.ai and Andy Simmons of e2open emphasised the importance of storytelling: ‘‘All compliance stories are about preventing problems. That doesn’t sell.’’

The US Bureau of Industry and Security (BIS) has drawn up a new regulation known as the BIS 50% Affiliates Rule. This stipulates that the trade restrictions imposed on companies on US sanctions lists will henceforth also apply to subsidiaries in which these companies hold a stake of 50 per cent or more. ‘‘With this regulation, the US government aims to tighten oversight of companies’ ownership structures,’’ explains Andy Simmons, senior director of solutions consulting at e2open. ‘‘Initially, this regulation was due to come into force at the end of last year, but this has been postponed until 10 November this year. In September, there were hints of a further postponement until 10 January next year, but this was never officially announced.’’

This story was originally published by Supply Chain Movement. Read the full story at Supply Chain Movement →