Financial fraud in the supply chain
A survey conducted by Deloitte Consulting LLP of 2,600 executives has unveiled some worrying findings: less once in three of those surveyed were utilizing the necessary data-analytics tools to identify vendor fraud or waste; 13% possess the correct tools but were still in the process of coming to grips with them; 22% did not utilize data analytics altogether. Such a lax attitude toward interpreting analytics can expose a company’s supply chains to financial fraud, according to Deloitte.
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Pledging to protect forests
H&M and Inditex, two of the biggest clothing retailers worldwide, are working closely with Canopy, a non-profit environmental organization, in an effort to cease using fabric materials sourced from the world’s most vulnerable forests.
Current estimates by Canopy reveal the fashion industry to be responsible for the felling of roughly 70 million trees annually, and this number is set to double in the next twenty years. Setting themselves a target of 2017, both retailers hope to entirely avoid using fabric originating from endangered forests by this date.
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Cargo thefts on the rise
According to a recent data released by Freightwatch, a global logistics security firm, cargo thefts in Europe rose more than 60% in 2013. The biggest cause of the spike is thought to be as a result of organized cargo theft rings. SupplyChainDigest talked about these developments, and what measures can be taken with Freightwatch executive, Ron Greene.
To read more, click here.
Have a great weekend!
