Latest Analyst Report: The 2023 Gartner® Market Guide for Supplier Risk Management Solutions
California Transparency in Supply Chains Act
Assess supply chain partner labor practices
The California Transparency in Supply Chains Act is a law enacted in 2012 that requires companies to disclose their efforts to ensure that the goods they sell are not produced by workers who are forced into servitude or labor. The law applies to any company that does business in the U.S. state of California, with at least $100 million in global revenue, and that makes or sells goods in California.
A company's public disclosure must be conspicuous and include information on how it:
- Verifies labor practices in its supply chains
- Audits suppliers
- Certifies that materials are not produced by forced labor
- Maintains internal accountability
- Trains employees and management
Prevalent helps organizations apply a rigorous level of due diligence to their suppliers by determining if a public statement exists, and by validating policies and processes through modern slavery risk assessments and continuous external monitoring of their real-world practices. Armed with these insights, organizations improve their visibility into their supply chain partners' labor practices, reducing the risk of reputational damage.
Relevant Requirements
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Publish an annual statement detailing the steps taken to ensure that human trafficking and slavery is not taking place in the business or supply chain
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Improve due diligence on suppliers to ensure they are adhering to the law
Align Your TPRM Program with Expanding ESG Regulations
Download this guide to review current and future ESG standards and legislation, and learn how to prepare your TPRM program for compliance.
Meeting California Transparency in Supply Chains Act Requirements
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Supplier Pre-Screening
Rapidly pre-screen vendors using a library of continuously updated risk profiles based on inherent/residual risk, assessment results and real-time reputational monitoring.
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Comprehensive Supplier Profile
Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights and maps potentially risky 4th-party relationships.
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Inherent Risk Scoring
Use a simple assessment with clear scoring to track and quantify inherent risks for all onboarded suppliers.
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Modern Slavery Assessment
Leverage Prevalent's built-in Modern Slavery assessment to determine adherence to policies. Review and approve assessment responses to automatically register risks or reject responses and request additional input.
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Central Risk Register
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.
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Built-in Remediation Guidance
Take actionable steps to reduce modern slavery exposure with built-in remediation recommendations and guidance.
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Document & Evidence Management
Store and distribute Modern Slavery policy documents for dialog and attestation.
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Compliance Reporting
Visualize and address compliance requirements by automatically mapping assessment results to Modern Slavery requirements.
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Relationship Mapping
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies and assess your exposure.
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Analyst ReportThe 2023 Gartner® Market Guide for Supplier Risk Management Solutions
Prevalent believes it is differentiated by delivering comprehensive coverage of multiple risk types and by delivering...
White PaperThe Definitive Guide to Supplier Risk Management
Discover best practices for tackling risk in your supply chain.
Data SheetSupplier Risk Monitoring Service
Gain continuous insights into potential supplier performance problems before they impact your business.
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