supply chain management

Verisio’s senior management has been helping many of the UK’s largest retailers and brands for over twenty years to manage their supply chains. We have helped them to understand and to address the existing risks. 

Traditionally this has been done by repeatedly auditing factories in China and Asia which has started to lead to audit fatigue. 

Managing and fixing all of the non-compliances (issues) found during audits has also been an administrative challenge for under-staffed Responsible Sourcing Teams. 

Verisio now provides a comprehensive service using our ‘Optimus’ software tool which can manage all of the data and provide regular dashboards to Responsible Sourcing Teams and Chief Executives. 

This works as follows: 

  • Verisio will contact all of the Tier 1, 2, 3 and 4 suppliers on behalf of the client. This list may be anything between 10 – 10,000 suppliers. 
  • Verisio will request existing ethical audit reports (such as SMETA, Amfori or similar schemes) and review these, grade the issues found and enter this data in our Optimus system. 
  • Optimus will chase the suppliers for evidence to validate that corrective actions have been closed off. This might require a desktop review of documents or a follow-up audit by an approved audit firm (members of APSCA) 
  • If no ethical audit reports are available, a tailored, online Self-Assessment Questionnaire (SAQ) may be used by Verisio to provide a Risk Assessment. 
  • A supplier’s risk grading and open non-compliances will be updated regularly as new data is provided showing improvements. This status feeds into monthly reports or the real-time dashboards that clients can view online. 
  • Most of the routine administrative work of following up on supplier issues can be handled on behalf of the client by Verisio and our Optimus software allowing Responsible Sourcing Teams to focus on more strategic issues and ‘beyond auditing’ projects. 
  • The data provided by Optimus, in turn, feeds into the client’s annual Modern Slavery Statement, giving real facts, figures and granular detail for the reporting. Going forward Modern Slavery Statements are expected to be dynamic, not generic policy statements. 

Based on the size of a client’s supply chain Verisio’s pricing model is an attractive monthly fee with no hidden extra costs. For most companies, this cost can be less than one full-time employee. 

We can help

Verisio can add transparency to your supply chain with our tools and expert social compliance auditors. Click this button to contact us for more information and a demonstration of Optimus - our cloud-based supply chain management platform.