During lunch break, Paul and Max, colleagues from a tech firm chatted by the window, observing delivery trucks speeding past. Sipping on lattes, the topic naturally steered toward the dynamic world of international trade and supply chains.
Paul: Max, notice how Amazon delivers packages faster than ever? Like, you order something from the other side of the world, and it’s here before you know it.
Amy: Absolutely, it’s incredible how swiftly international trade operates now. Times have really changed.
Paul: Indeed, it’s not just about speed though. These robust supply chains come with a significant responsibility to ensure ethical and sustainable practices. It’s a major challenge for companies.
Amy: Oh, like that Spider-man quote? “With great power comes great responsibility.”?
Paul: Precisely, it’s not just about speed, it’s about doing it right. Have you heard of Supply Chain Due Diligence Act (SCDDA)?
Amy: Rings a bell. That’s an act that establishes rules and checks for companies to manage their supply chains responsibly, isn’t it?
Paul: Exactly. It emphasizes effective risk management and the promotion of a globally sustainable supply network. A step in the right direction.
Amy: Definitely a positive development. We can’t sacrifice ethics for speed. It’s reassuring to see regulations in place.
Paul: Agreed, Amy. But here’s a thought: How can companies consistently maintain ethical and responsible supply chains? Adhering to regulations promptly sounds quite demanding. What do you think?
A Low Code Platform is the Compelling Solution to Witness This Transformation
Low code platform is an effective solution for this transformation particularly in guaranteeing adherence to compliance standards within supply chains, such as Supply Chain Due Diligence Act (SCDDA). Here’s how:
Streamlining information, connecting people
Every supply chain, regardless of scale, relies on the coordination of numerous individuals. The low code way offers intuitive user-friendly interfaces, comprehensive analytics, and real-time reports aligned with the requirements of the Supply Chain Due Diligence Act (SCDDA). Imagine knowing where your goods are in real time and spotting potential compliance risks beforehand– that’s the power of low code.
Data at your tips
Data is everywhere and supply chains thrive on data. Traditional ways of collecting this data can be overwhelming. But with low code platforms, designing agile applications to swiftly collect data from varied sources becomes remarkably straightforward, aiding companies in fulfilling their obligations under the Supply Chain Due Diligence Act (SCDDA). This translates to faster and informed decision-making processes.
Source-agnostic approach
Present-day low code systems introduce agility to the process of data ingestion. Irrespective of the origin or format of data within the supply chain, the low code system ensures the inclusion of all data points.
Simplifying and automating workflows
Compliances can be demanding. The procedural framework to ensure undertakings, attestations, approvals, documentation, risk mitigation, collaboration, monitoring and reporting involves multiple intricate stages. Low code platforms help businesses create automated processes for these tasks, minimizing the chances of mistakes that can arise from manual handling. These include creation of automated workflows, data input, document gathering and secure archival with advanced content repositories, DOA based approvals and fool-proof rule-based validations.
The Power of Low Code Platforms in Staying Compliant with the Supply Chain Due Diligence Act (SCDDA)
Speed and simplicity
Low code platforms have significantly shortened development timelines. This allows businesses to orchestrate compliance frameworks, define processes, monitor compliances, report non-adherence, and quickly execute remedial measures, in accordance with the timely requirements of the Supply Chain Due Diligence Act (SCDDA).
Empowered non-techies
Constructing workflows, designing interfaces, building rules, and mapping stakeholders can all be done by any authorized individual without the necessity of coding skills. Reduced dependency is one of the greatest highlights of low code paradigm.
Smarter decision making
With the access to abundant data, stakeholders can make informed and data-driven decisions, guided by data insights, facilitating risk mitigation and ensuring meticulous due diligence, as stipulated by the Supply Chain Due Diligence Act (SCDDA).
Cost optimization
Contrary to conventional software development, low code minimises reliance on specialised coding expertise, leading to cost efficient development and maintenance.
Agile and adaptable
Supply chains are ever-evolving entities, just as the Supply Chain Due Diligence Act (SCDDA) acknowledges. With constantly changing regulations, businesses need systems that can adapt swiftly. Low code platforms offer this adaptability, making it easier to update applications in line with the latest compliance requirements of the Supply Chain Due Diligence Act (SCDDA).
In Conclusion
Paul: Amy, I’m truly amazed by the potential of low code platforms. It seems like they’re set to revolutionize supply chain management and compliance!
Amy: Absolutely, Paul. It’s like giving companies an effective tool to ensure they’re ahead of the game, ethically and efficiently. In a nutshell, low code platforms offer a smart, efficient, and cost-effective solution for businesses aiming to digitize and maintain compliance with the Supply Chain Due Diligence Act (SCDDA). It’s high time that organizations consider incorporating this tool in the arsenal for expediting their digital transformation.
