Posted by Richard Woodman, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Firms cannot afford to overlook legal responsibilities
Businesses are exposing themselves to the very real danger of breaking the law if they do not keep a close eye on their supply-chain arrangements, new research suggests.
New pieces of legislation, such as the Modern Slavery Act 2015, which came into force last October, require employers of a certain size to reveal the steps they are taking to eliminate human trafficking in their supply chain.
However, according to the recent study, almost a third of businesses failed to analyse the full supply chain when disruption arose and this lack of awareness could potentially open the door to legislative breaches.
Nick Wildgoose, from Zurich Global Corporate, said that paying close attention to supply chains helped businesses to minimise risk as well as enabling them to forge closer connections with suppliers.
“At the end of the day, if you do not manage the risk, both sides suffer,” he said.
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