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Alex Saric, Smart Procurement Expert, Ivalua. Procurement has a vital role to play in identifying and managing risk. Office of Foreign Assets Control (OFAC) after their suppliers used third party vendors in NorthKorea, falling foul of NorthKorea Sanctions Regulations. Procurement has a vital role to play.
As first reported by Fairfax Media , a factory in NorthKorea has been making high-priced surf and snow gear for Australian surfwear company Rip Curl since at least 2014, with the garments labeled “Made in China.” We do not approve or authorise any production of Rip Curl products out of NorthKorea.”
Other geopolitical risks, such as tensions between Russia and Ukraine, along with unpredictable regimes in Iran and NorthKorea, have the potential to disrupt global supply chains as well. Brexit fallout, characterized by additional red tape, dislocated labor markets, and anemic trade growth, continues to affect supply chains 4.
This paper explores why forced labor in seafood industry supply chains continues to grab headlines, tarnish brand images, and challenge procurement teams – and what they can do about it. Background. In 2012- 50% of exports came from developing countries. The revelations forced the U.S.
Proactive disclosure of relevant data, including government budgets, company ownership, public procurement and political party finances allows journalists, civil society and affected communities to identify patterns of corrupt conduct more efficiently. NorthKorea. Equatorial Guinea. Media Type. Printer-friendly version.
Accomplished procurement veteran and author Tom Linton provides valuable insights into the supply chain risk management landscape in 2024 in this exclusive Q&A. In this Q&A, Tom shares insightful stories from his over 20 years in procurement and tells us what should be top of mind for supply chain managers in 2024.
NorthKorea : The more missiles NorthKorea launches and tests, the greater the risk for military conflict — or worse. In short, relations between the United States and NorthKorea have significantly degraded this past year and it doesn’t look like things are going to improve anytime soon.
Russia, Iran, NorthKorea, and ISIS : Call them “The Unpredictables” (you can probably add China to the mix too). planes and ships ); Iran and NorthKorea and their nuclear ambitions; ISIS exporting its brand of terrorism around the world; and China building islands in the South China Sea (and reportedly putting weapons on them ).
There are some talks going on between NorthKorea and China, and as China buys a lot of coal from NorthKorea, so this may take a while in terms of pressure, but the two at least are in talks following Trump’s visit with the Chinese leader. India and China are both growing at rates of 6-7% as well.
The approach calls for a deeper look at procurement chains, critical mineral qualification and the calculation of mineral content. The Inflation Reduction Act does not directly define FEOCs, but it does allude to China, Russia, NorthKorea and Iran falling within that category.
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