Element 2: Understand supply chain risks
Implementation of commitments happens on the ground by soy producers. Companies need to know where soy is coming from to assess compliance with their policies and to ensure that, whenever supplier fails to meet the policy criteria, an appropriate plan for full compliance is in place. Risk analysis is a useful approach to support the prioritization of resources, to identify appropriate actions and to plan for interventions, especially for downstream companies.
This element is to depict how soy buying companies can:
Define a traceability process to map the supply chain (More information in BN02.A Traceability & Transparency below)
Define a risk analysis process, to understand risks of non-compliance with the policy and plan for further engagement (More information in BN02.B Risk Analysis below)
Prioritise suppliers for engagement