Inside Counsel recently spoke with Kenneth Resnick, president of ATRQ Global, an ethics and compliance consulting firm and former vice president and general counsel for GE Oil & Gas about supply chain risk and how to manage it.
Click through the slideshow to see his
"You should create a risk mitigation plan tailored to a particular risk," Resnick
Unfortunately, having an international supply chain means that large companies have to be cognizant of human rights issues in various countries, "Child labor, slave labor - those types of issues, in a number of countries around the world remain a huge problem," says Resnick
These potential problems create a new set of expectations for businesses.
"When companies employ people in various parts of the world where there is poverty or a disparity of income or education and an absence of justice, there is an expectation for larger multinational companies to have some engagement in the community," he
has some advice for how to deal with these situations.
"When something comes up, act promptly and trust but verify," he