5 Reasons For A Promotional Clothing Company To Consider Introducing An Ethical Trading Policy.
1.Your customers may be end users or part of a supply chain
, regardless of which they may insist that you show transparency in your purchasing and if you cannot prove that you trade ethically they may well consider removing you from their suppliers list.1. Pressure from their customers who may be the end users of a product or the next link in their supply chain. More and more organisations that include some of the world's largest organisations are driving Ethical Trading and transparency up and down their supply chains by insisting that their suppliers not just trade ethically but can prove that they do so.
2. Regardless of size, most companies want to be seen as being leaders in their field of commerce. Clients can clearly see that they are a considerate, progressive and worthy copmpany. Ethical trading offers the more forward thinking company the opportunity to shine in a marketplace. There are so few companies who have a published ethical trading policy that those who do will benefit.
3. Respect and consideration for those in their supply chain is essential for any procurement team that are looking for a long term, beneficial partnership with their suppliers and end users. Any procurement officer worth his salt will not want to save money by you utilising the services of child slave labour or below cost of living wages. Good staff do not want to work for a company that forces them to trade unethically. If you want the best staff then you must ensure that your purchasing practises are ethical.
4. If a company wants to be sure that their competitive edge has not been eroded they need to study what their competitors are doing. If one company in any sector is seen to be ahead of the market in any area of business from marketing, product development or corporate social responsibility then this makes them stand out from the crowd.
5. The dread of news articles about how their products are manufactured by slave labor or in unsanitary conditions.
It does not matter why a company chooses to go down the ethical trading route, some do it from a cynical necessity whilst others do it for more moral reasons, the fact is when you trade ethically you will receive a very positive response from your clients.
The Ethical Trading Initiative and the Suppliers Ethical Data Exchange are two organisations that can assist you in learning more about this subject. Both of these excellent organisations will give you lots of assistance and details about how to take the next stage to trading ethically.
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