Companies today must emphasize on sustainable growth if they wish today if they want to stay relevant in the long run. However, sustainability does not just refer to being environmentally cautious or control the use of natural resources. It also means that the company should demonstrate ethical and social responsibility in its practices. This is where SMETA comes in.
Sedex Members Ethical Trade Audit (SMETA) is internationally one of the most widely used ethical audit formats. Sedex, the Supplier Ethical Data Exchange, is largest collaborative platform in the world for suppliers, buyers, and auditors to share and report any information related to the business. The information presented on this platform demonstrates the company’s transparency regarding its operations and methodologies.
Following SMETA audit the company is eligible to post its results, documents and related information on Sedex, increasing the credibility and gaining trust of the customers.
- Features and Benefits
- Applicability
- Consulting Methodology
SMETA specifications might be international but like many other management standards the audit is conducted based requirements of the local regulations.
SMETA offers a simple and effective way of managing ethical and responsible practices in your supply chain.
Our core product is a secure, online database which allows members to store, share and report on information on four key areas:
• Labour Standards
• Health & Safety
• The Environment
• Business Ethics
Buyers can view and manage ethical information for all their suppliers in one secure place
Suppliers can enter their ethical information and choose to share it with multiple customers on SEDEX
For buyers – Sedex offers an electronic system for collecting and analysing information on ethical and responsible business practices in your supply chain.
A variety of reporting tools enables you to keep track of your suppliers’ performance and you will also have access to an advanced Risk Assessment Tool.
For suppliers – SEDEX provides an efficient and cost-effective way of sharing ethical information with multiple customers, helping cut down on unnecessary paperwork and saving you time and money.
The SEDEX system is secure and confidential and suppliers have complete control over who can view their data.
By allowing suppliers to share the same data with many customers, Sedex helps reduce the need for multiple audits, allowing both parties to concentrate on making real improvements.
The results from the SMETA audit offer a comprehensive report of the operations of the company and identify the areas which require work. It highlights where the company needs to work on in regards to the welfare of the employees in the company.
Benefits of this audit include:
- Demonstrate compliance with the highest social international standards
- Improve responsibility & guidance from the top management
- Show the company’s commitment to improving workplace conditions
- Better engagement employee
- Boost brand image in the market
- Gain the trust of customers
- Increase the company’s performance
When a company applies for SMETA 6.1 audit, it needs to be prepared to restructure its processes to meet the guidelines on an ethical level. The audit is a full assessment of policies, philosophy, existing systems and procedures within the company. The audit also evaluates the practices to ensure that they conform to the SMETA requirements.
On completion of the audit, the organization is given a corrective action plan that must be implemented. Furthermore, there will be a follow-up review to address if the company has taken proper measures as stated in the report. Once all the procedures meet the needs as per the SMETA guidelines, the company is accredited. The audits will be conducted at regular intervals to ensure effective execution and maintenance of SMETA requirements.
Technocrat Consultants helps companies restructure their operation to meet the SMETA guidelines, gain the accreditation and retain it for future review audits.