SUPPLY CHAIN TRANSPARENC AVIGATING THE DEMANDS FOR ETHICAL SOURCING AND TRACEABILITY

Prakash Divakaran; Vandana Mishra Chaturvedi

doi:10.29121/granthaalayah.v12.i1.2024.6253

Authors

Dr. Prakash Divakaran Pro-Vice Chancelor & Professor, Department of Business Administration Himalayan University, Itanagar, Arunachal Pradesh.
Dr. Vandana Mishra Chaturvedi Vice-Chancellor, D Y Patil Deemed to be University, Sector -7, Vidya Nagar, Nerul, Navi Mumbai-400706

DOI:

https://doi.org/10.29121/granthaalayah.v12.i1.2024.6253

Keywords:

Transparent Supply Chains, Technological, Ethical Sourcing, Digital Security and Privacy, Digital Environment, Technology Privacy

Abstract [English]

Modern supply chains need transparency. Due to ethical concerns and traceability needs, stakeholders are pressuring companies to provide more supply chain information. This abstract discusses supply chain transparency and its role in traceability and ethical sourcing. "Supply chain transparency" refers to information about every stage of the supply chain, from raw materials to final items. Ethical sourcing ensures that products are created safely for workers, the environment, and human rights. Traceability aids ethical procurement by tracking products and components from origin to destination. Consumers, governments, and watchdogs want supply chain transparency. These expectations are driven by concerns about supply chain operations' social and environmental impacts. Businesses must address these demands to maintain consumer trust, meet regulatory criteria, and follow public norms. However, supply chain transparency is challenging. Complex global supply chain networks, lack of supplier behavior understanding, and information imbalances challenge openness. Blockchain, data analytics, and supplier cooperation platforms may help companies address these challenges. These technologies may improve supply chain visibility by collecting, verifying, and exchanging data. Supply chain transparency affects everything. Failure to satisfy transparency responsibilities may damage reputation, legal standing, and stakeholder trust. Transparency may improve a company's image, win consumer trust, and make its supply chain more resilient to delays and dangers.

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