The Retail Industry
The Compliance Landscape
The regulatory landscape is expanding, and retail companies have more data requirements to manage. Risk management teams in the industry have a larger role in validating and verifying the product documentation suppliers provide to them. They also have a responsibility to ensure the work environments to which they outsource production operate with respect for human rights and according to labor standards. Standardization and centralization can help companies engage their regulatory requirements efficiently and manage data with accuracy.
Companies in the retail industry have many compelling challenges to navigate, including:
- Rapid expansion of the regulatory landscape.
- High consumer expectations.
- Competitive industry.
- Low visibility into human rights violations in the supply chain.
- Growing scrutiny from regulatory bodies and stakeholders.
- Rotating stock, and thousands of products to validate.
- Outdated supply chain data management solutions that do not scale.
- Limited visibility into product composition.
- Unstable global trade climate.
Assent is uniquely positioned to help retailers respond to these challenges. We work with many of the world’s largest companies to help them manage their expanding data requirements, and ensure their internal code of conduct is reflected throughout the supply chain. We help them achieve success through efficient and automated campaign management, 24/7 support, regulatory expertise and supplier education.
Your company could be in scope of a variety of regulations in the product compliance, corporate social responsibility and vendor management spaces. These include: