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Procurement Can Prepare for  Supply Chain Risk

ivalua

Office of Foreign Assets Control (OFAC) after their suppliers used third party vendors in North Korea, falling foul of North Korea Sanctions Regulations. In January 2019, e.l.f. cosmetics had to pay a $1 million fine to the U.S.

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Made in “I Really Don’t Know”

Talking Logistics

As first reported by Fairfax Media , a factory in North Korea 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 North Korea.”

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Artificial Intelligence and Critical Infrastructure

Enterra Insights

” Iran, North Korea, China, and Russia are all known to conduct malicious cyberattacks against other nations. By developing behavior models, AI systems can spot deviations and anomalies that can be signs of security breaches or cyberattacks. This approach enables early detection of previously unseen attack vectors.”

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The Global Trade Compliance Market is Crazy!

Logistics Viewpoints

In April of 2022, British American Tobacco, headquartered in the UK, agreed to pay $508 million in fines for selling their products to North Korea. There can be big fines for noncompliance with trade regulations. This action was brought by the Office of Foreign Assets Control which is an enforcement agency of the U.S.

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Over 400,000 People Living in 'Modern Slavery' in U.S., Report Finds

Supply Chain Brain

North Korea has the highest prevalence of modern slavery globally, with one in 10 of the population, or 2.6 “This is a truly staggering statistic and demonstrates just how substantial this issue is globally. This is only possible through a tolerance of exploitation,” Forrest added. million people, victims of modern slavery.

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Has China lost its relevance as a production location?

Supply Chain Movement

The general price level of products made in China is rising rapidly, and it has been claimed that some of the products actually originate in North Korea. China’s position as a production location is currently a hot topic amongst global thought leaders in supply chain.

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Supply Chain and Logistics Resolutions for 2017: 4 Things to STOP Doing This Year

Talking Logistics

the collapse of the garment factory in Bangladesh that killed hundreds of ‘slave-labor’ employees, Rip Curl apparel marked “Made in China” actually being made in North Korea). When it comes to these types of serious supply chain problems, saying “I didn’t know” is no longer an acceptable excuse (if it ever was).