Home / Knowledge / News / Textiles / BSI launches global risk management standard for suppliers
BSI launches global risk management standard for suppliers
11
Nov '14
BSI (British Standards Institution), a business standards company that equips businesses with necessary solutions, has launched PAS 7000, a universally applicable supply chain risk management information standard for suppliers and buyers.

The PAS 7000 standard draws on the collective expertise of 240 professionals drawn from global industry associations and organizations, and it addresses product, process and behavioural criteria for supplier pre-qualification, BSI said in a statement.

The supply chain management solution offers a uniform set of common information requirements that reduces duplication of effort in completing tender forms and aids procurement in bringing consistency to the supplier base. It establishes a model of governance, risk and compliance information for buyers to pre-qualify suppliers and confirm their intention and ability, to adhere to key compliance requirements. This in turn helps organizations make an informed decision about whether or not to engage with a potential supply chain partner.

The new standard specifies a universal package of supplier information to be shared with supply chain partners which covers key supplier information, capabilities, and performance which will help buyers trace back and secure their supply chains, mitigate risk and brand reputation and for suppliers to promote their products.

Based on international consensus developed by procurement and supply chain professionals drawn from the UK, the US, and Asia-Pacific (APAC), PAS 7000 includes a wide range of potentially relevant topic modules such as capacity and capabilities, environmental management, employment policies, business continuity, traceability and data protection.

Howard Kerr, chief executive at BSI, said, “Today’s consumers and employees demand integrity from the organizations they deal with. Acting with integrity requires confidence in all those involved in delivering a service, anything else risks brand reputation. The benefit of this new standard is that it helps brands to align their supply chain with their corporate values by adopting an internationally defined framework of good practice for supplier pre-qualification.”

BSI facilitates business improvement across the globe by helping its clients drive performance, manage risk and grow sustainably through the adoption of international management systems standards, many of which BSI originated. (GK)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 18th Feb 2020

IMF says Indian economic environment weaker than projected

There is an urgent need for more ambitious structural and financial...

Pic: Shutterstock

Apparel/Garments | On 18th Feb 2020

Bangladesh RMG exporters expect order shift from Cambodia

Bangladesh's readymade garment (RMG) exporters feel the suspension of ...

Pic: Shutterstock

Textiles | On 18th Feb 2020

India to focus on 12 sunshine sectors to boost exports

India is focusing on 12-13 sectors with a competitive edge to boost...

Interviews View All

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Awanda Booth,

Awanda Booth

Held every year in New York City, Surtex is a global business-to-business...

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search