Solution
Fashion
Our third-party risk, internal control, and compliance management solutions are designed to address the specific challenges of the fashion industry, ensuring effective risk management, regulatory compliance, and operational efficiency.
3 most common challenges and our solutions
Combating modern slavery in supply chains
The fashion industry often struggles with the hidden challenge of modern slavery within its extensive supply chains, which poses severe ethical and legal risks.
TPRM module
The 3rdRisk TPRM module offers robust tools for in-depth due diligence and continuous monitoring of supply chains, helping to identify and address instances of modern slavery, thereby safeguarding ethical standards and legal compliance.
Preventing child labour in manufacturing
Child labour in manufacturing, a critical concern for the fashion industry, can severely damage brand reputation and lead to legal repercussions.
TPRM module
The 3rdRisk TPRM module facilitates proactive monitoring and auditing of manufacturing processes to ensure compliance with child labor laws, protecting the brand’s reputation and ensuring ethical business practices. It simplifies the follow-up process through automated tracking and scheduling of remedial actions.
Ethical sourcing and transparency
In the fashion industry, maintaining ethical sourcing practices and transparency is a significant challenge, essential for building consumer trust and brand integrity.
Internal Control module
The 3rdRisk Internal Control module assists fashion brands in maintaining ethical sourcing standards. It provides a framework and associated workflows for transparent reporting and auditing of sourcing practices, ensuring ethical operations and building consumer confidence in the brand’s commitment to responsible practices.
Starting with third-party risk management (1): How to set up your capability?
Sustainability expert Wouter Botzen on managing ESG-related supply chain risks
German Supply Chain Act: Key takeaways for compliance
FAQ
In the overview below, we have listed the most frequently asked questions and answers. Do you still have questions? Just reach out to one of our experts.
Can I effectively manage third-party risks with 3rdRisk without having a dedicated team?
Yes. By using the TPRM module of the 3rdRisk platform, you can already assess and monitor up to 100 third parties with only a few hours a week. In addition, you can also decide to outsource third-party risk management or internal control activities. For organisations that are inclined to outsource these tasks, we have established partnerships with renowned partners who are well-versed in leveraging our platform’s capabilities allowing them to deliver excellent quality at a competitive price.
Do I need training to operate the 3rdRisk platform?
No. No training or certification is required to operate the 3rdRisk platform. For organisations that choose to manage their internal control or third-party risk management program in-house, our platform acts as an intuitive platform, streamlining processes and making follow-up and monitoring straightforward. Its design ensures that teams can quickly familiarise themselves with its features, reducing the learning curve and allowing for immediate implementation.
