TYS Podcast S2E4 – Unraveling the Global Tapestry of Politics, Economics, and Supply Chains

In this episode, we dive deep into the intricate web of global politics, economics, and supply chains, unraveling the complexities that shape the landscape of modern business. Join us as we explore pressing questions and uncover insights that shed light on the evolving dynamics of the global risk environment.

The volatile nature of today’s global political and economic climate reverberates across industries, making it imperative for supply chain and procurement professionals to stay vigilant. Every shift in geopolitics or economic policy can send ripples through the supply chain, impacting everything from sourcing strategies to operational efficiency.

So, why does this matter for supply chain and procurement? Simply put, businesses operate in a connected world where disruptions in one region can have far-reaching consequences. Whether it’s trade disputes, sanctions, or geopolitical tensions, these factors can disrupt supply chains, increase costs, and affect business continuity.

Tracking these issues requires a comprehensive approach, leveraging a mix of data sources, analytics, and expert analysis. By monitoring key indicators, companies can anticipate risks and identify opportunities, enabling proactive decision-making.

To gain deeper insights into these challenges, we asked the experts at Prism about the emerging trends in global politics and economics. Watch our conversation with them and read our blog, co-authored by TYS and Prism, on how the Swiss climate ruling reshapes supply chains and risk management.

Navigating Geopolitical Shifts

How the Swiss Climate Ruling Reshapes Supply Chains and Risk Management

by Michelle Armstrong, TYS Global VP of Value Engineering and George Coe, Prism Cofounder & Partner

On April 9, 2024, a Swiss Court determined that the Swiss government had a legal obligation to combat climate change, based on European Human Rights Law. The case will have significant implications for ESG and supply chains. 

This adds to a wave of climate litigation, against both countries and companies, but stands as a landmark ruling due to the use of human rights law broadly, and the European Convention on Human Rights (ECHR) specifically, for which a precedent is now set for all 46 countries that are signatories. 

The implications go far beyond the direct ruling. TYS partner, PRISM, a geopolitical risk advisory firm, breaks down the issues for supply chain leaders to watch in three categories. 

Risk of rapid regulatory expansion: the ruling implies that governments have an obligation to take appropriate measures to meet their stated climate goals. Current policy in almost every country comes far short of stated climate goals, such as the Net Zero by 2050 targets set in most Western economies. Legal obligations to put in place policies that match stated goals would mean transformative new climate regulations that would require far larger changes to supply chains than current law. This could range compliance burdens like greater disclosures, but the ruling implies effort aimed more directly at cutting climate risk, making it more likely that direct supply chain costs would be imposed by policies that require renewables investments, more ambitious emissions reductions, reduction of high emissions imports, and other more fundamental changes. 

More countries: a range of other cases exist using human rights and other laws. Other countries, from France to Portugal to India and beyond must be watched for similar precedent-setting rulings that would expand the implications of this legal framework beyond Switzerland and the ECHR. 

Direct corporate lawsuits: the ruling accelerates the impact of climate litigation from activists, which has also been aimed directly at companies. It can be expected to boost efforts to sue companies directly for failures on climate change, creating financial risk to companies and their suppliers, if more lawsuits are successful. 

More broadly, the case could act as a catalyst for enhanced international cooperation. By framing climate action as a human rights imperative, it may lead to a concerted effort among nations to standardize environmental policies and regulatory frameworks, especially at a time when human rights and environmental goals are being pursued in tandem in supply chain regulations like the EU’s CSDDD. 

The case itself is a crucial moment in the use of litigation by climate activists, bringing together years of work at the intersection of environmental advocacy, human rights, legal strategy, and political dynamics. If a precedent has truly been set that expands to more countries, we can expect a rapid rise in transformative climate action, rather than just stated goals, in the coming years. 

Learn more about our TYS partner Prism.

Read more about the landmark Swiss case.

#TYS #Prism #ClimateLitigation #ESG #HumanRightsLaw #RegulatoryExpansion #CSDDD #Sustainability #GeopoliticalRisk 

International Zero Waste Day

Tomorrow, March 30, is the International Day of Zero Waste—a time to consider the significant challenge of global waste production. Did you know? Every year, humanity generates between 2.1 and 2.3 billion tons of municipal solid waste, posing a severe threat to the health and sustainability of our planet.
Here at TYS, we are dedicated to helping organizations turn the tide against this crisis. Our team has shared ways in which they work toward zero waste, including:
    • Replant gifted potted plants so they can grow and flourish for years to come
    • Sew cloth napkins and paperless towels that they use to replace one-item use napkins and paper towels
    • Use glass or aluminum straws instead of plastic ones
    • Use bar soap instead of liquid soap that comes in plastic containers
    • Take reusable totes to the store for shopping
Our TYS solution and approach goes beyond supplier management; it’s about empowering businesses to align with their sustainability goals and make real change happen. Through our advanced blockchain-based solution, we promote ESG accountability, driving collaborative efforts toward a greener future.
This #ZeroWasteDay, let’s come together to support a more sustainable world. Explore how TYS tools can enhance corporate responsibility initiatives.  Learn more about the International Day of Waste.

#Sustainability #TYS #Blockchain #ESG #CorporateResponsibility

April Harrison: Shining a Light on TYS and her Team

In the bustling corridors of Trust Your Supplier, amidst the whirlwind of innovation and collaboration, there exists a guiding light, a beacon of inspiration known as April Harrison. Hailing from the heartland of North Carolina, April graces our midst as the Director of Communications and Marketing, a role she embodies with unparalleled grace and unwavering dedication. 

With two precious souls to call her own and a devoted husband by her side, April weaves the tapestry of her life with threads of love, warmth, and boundless compassion. As the caretaker of Trust Your Supplier, she wears many hats with effortless elegance—a shining example of friendship, intellect, and unwavering commitment. 

April’s inquisitive mind and insatiable curiosity are the hallmarks of her character, guiding her on a journey of continuous growth and self-discovery. A mastermind of managing multiple tasks, she navigates the complexities of her role with poise and precision, her arms extending to envelop all those who seek solace and support in her embrace. 

Within the walls of Trust Your Supplier, April’s presence is akin to a gentle breeze on a warm summer’s day—a comforting reminder that no one walks alone. She nurtures her TYS family with the tender care of a devoted mother, ensuring that each member feels valued, heard, and empowered to thrive. 

Despite the challenges that have tested her resolve, April’s indomitable spirit shines brightly, illuminating the darkest of days with her infectious humour, unwavering sensitivity, and unyielding grit. Through the trials and triumphs, she remains steadfast in her commitment to excellence, her enthusiasm undimmed by the trials of uncertainty. 

Beyond the confines of her professional realm, April’s impact extends far and wide, touching the lives of all who are fortunate enough to cross her path. As a beacon of hope and inspiration, she leads by example, her weekly aerobics classes a testament to her unwavering dedication to community and connection. 

April’s journey is a testament to the transformative power of hard work, perseverance, and adaptability. Thriving in an industry where she had no prior background experience, she fearlessly embraces the unknown, continually challenging herself to stay ahead of the curve and lead her team to new heights of success. 

To our esteemed leader, confidante, and friend—April Harrison—we extend our deepest gratitude for the light you bring into our lives. Your unwavering commitment, boundless compassion, and unyielding determination inspire us all to reach for the stars and never settle for anything less than greatness. 

Fatima Lacanlale: Empowering Teams and Inspiring Growth

In the dynamic world of business development and sales operations, Fatima Lacanlale stands out as a beacon of inspiration and leadership. With a career trajectory shaped by determination, resilience, and a passion for empowering others, Fatima’s journey from her roots in the Philippines to her current role as Global Head of Business Development at TYS is nothing short of remarkable. 

At Trust Your Supplier (TYS), Fatima plays a pivotal role in driving the business development team’s global initiatives while spearheading sales enablement and operations. Collaborating closely with the Chief Revenue Officer, account executives, marketing professionals, and business development representatives, she orchestrates strategies to propel the company toward its goals and grow the pipeline. 

Fatima’s path to sales enablement and leadership was forged through her innate love for people and her creative spirit. From her early days in retail to her tenure as a Business Development Representative in the tech industry, she honed her skills in communication and relationship-building. Today, as a leader at TYS, she leverages her expertise, passion for sharing best practices, and commitment to mentorship to nurture her team’s success. 

Behind Fatima’s journey to leadership lies the influence of a mentor who exemplified the qualities of a supportive and empowering leader. Through regular sync-ups, constructive feedback, and growth opportunities, this mentor instilled in Fatima the importance of resilience and continuous learning—a philosophy that continues to guide her leadership approach today. 

Fatima’s success can be attributed to her unwavering determination, insatiable curiosity, and relentless pursuit of excellence. Her ability to navigate challenges, including overcoming barriers of racism early in her career, reflects her resilience and determination to thrive in any environment. Each new opportunity has been a testament to Fatima’s commitment to personal and professional growth.

In the competitive business world, Fatima believes that women bring invaluable qualities such as empathy and preparedness to the table. Her advice to fellow women in business echoes her own journey: embrace mentorship, never stop learning, and remain true to yourself. She also recommends platforms like Chief for learning and networking opportunities.

Despite her demanding schedule, Fatima prioritizes self-care and mental well-being. Daily gym sessions, mindful eating, and regular painting sessions serve as outlets for rejuvenation and creativity. Her passion for painting, cultivated since childhood, not only provides solace but also serves as a reminder of the importance of pursuing passions outside of work.

When it comes to fostering a supportive environment for women in organizations, Fatima emphasizes the significance of compliments, regular syncs, and constructive feedback. By uplifting and empowering one another, women can create a culture of collaboration and growth.

Fatima Lacanlale’s journey is a testament to the transformative power of resilience, mentorship, and self-discovery. As she continues to inspire and uplift those around her, her impact extends far beyond the business realm—it resonates as a beacon of hope and empowerment for women everywhere. 

Empowering Women in Technology: Aparna Amberkar’s Story

Get ready to be inspired by the incredible Aparna Amberkar, the Product Development and Delivery Manager at Trust Your Supplier! She is a powerful player in the tech industry and an innovator and inspiration to women looking to enter this field. 

Since her early days, Aparna has had a love for math that fuels her passion for technology. This love only grew stronger when she graduated from college with a focus on software development. Starting her career as a web developer, Aparna’s passion for blockchain and product development led her to her current position at Trust Your Supplier, where she plays a critical role in converting business requirements into actionable tasks for her team to implement. 

Throughout her career, Aparna has had to take a few breaks and switch gears, which has helped her achieve both her personal and professional goals. For instance, when her children were born, Aparna took a break from her career to focus on motherhood. Later, she switched from being a developer to a project manager. Her unique journey demonstrates the importance of being flexible and adaptable not only in your career but also in your life. 

Aparna is an outstanding leader, managing five global teams spanning India, the United States, and Vietnam, each with its own goals. She meets with each of them daily to discuss objectives, activities, problems, and solutions. Managing a global team has its challenges, but Aparna says it allows her to learn about different cultures and connect with people from various backgrounds. She even has Vietnam on her bucket list to visit one day! 

As a woman in the technology industry, Aparna is keenly aware of the challenges that women face in the field. One of the significant challenges she sees is the lack of women in leadership positions. Aparna believes that having more women in these roles is crucial to providing role models and mentorship opportunities for younger women. Companies should proactively recruit and retain women in technological roles by providing multiple opportunities, flexible work arrangements, and equal pay. 

Aparna’s journey is a testament to the importance of hard work, perseverance, and adaptability. Let’s celebrate the contributions of women like Aparna, who are paving the way for future generations of women in technology. So, if you’re a woman interested in technology, take inspiration from Aparna and never give up on your dreams. With hard work, dedication, and a passion for technology, you too can make a mark in this field!  

Melissa Hansen, Technology and Business Translation Extraordinaire

Melissa Hansen’s entire career has been spent in that “space between” business and technology, acting as an interpreter and translator between the two disciplines. 

Melissa started her journey in business operations at Nortel during high school vocational training and eventually moved toward the IT side, where she has been ever since. She is currently the Client Integration Director and Solution Architect at Trust Your Supplier, a blockchain-based platform that helps to simplify and accelerate supplier onboarding, validation, and lifecycle information management for businesses. She started with the company on the client integration team and has since floated between managing clients, developing the TYS platform, and fulfilling executive tasks – helping bridge the divide between business and technology. 

Melissa credits the success of her career to finding ways to utilize her talents to best help whatever team she finds herself on. And although she has not experienced the glass ceiling in tech personally, she acknowledges its existence. She knows that she is lucky to have always worked with incredibly supportive male and female leaders throughout her career and that this is not the case for everyone.  

When asked about the future of women in the tech industry, Melissa has high hopes. She sees the role of women in the tech industry evolving in the next 5-10 years because she thinks that by encouraging young girls to pursue STEM programs, we can help build an even better, more inclusive workplace in the future. “Women bring so much value to the table in the tech industry,” said Melissa, “including a collaborative leadership mindset that implements respected ideas from all levels of an organization across diverse teams.” 

Melissa Hansen serves as an inspiration to all women in the tech industry. Her dedication to her craft, hard work, and ability to thrive in a male-dominated industry is a testament to the perseverance and talent of women everywhere. As we continue celebrating Women’s History Month, let us remember the importance of recognizing the achievements of women like Melissa, who pave the way for the next generation of female tech leaders. 

Trust Your Supplier at EcoVadis SUSTAIN 2024

A Thankful Reflection and Path Forward

by Michelle Armstrong, TYS Global VP of Value Solutions Consultant

Last week, Trust Your Supplier (TYS) joined leaders in sustainability at EcoVadis SUSTAIN 2024, diving into the complexities of compliance and sustainable practices. We’re grateful to EcoVadis and all participants for a forum rich in insights and collaborative spirit.

Key Insights: Simplifying Compliance
The call for simplification in the face of growing regulatory complexities was loud and clear. Our blockchain-based solution’s role in streamlining compliance and fostering transparency across supply chains was more relevant than ever. This reinforces our mission to make navigating compliance easier for everyone.

Our Commitment to Guidance and Collaboration
The discussions at SUSTAIN 2024 have strengthened our commitment to providing innovative solutions and expert guidance. Emphasizing collaboration, we’re energized to work alongside industry peers and businesses to tackle sustainability and compliance challenges together.

Looking Ahead with Optimism
SUSTAIN 2024 was a powerful reminder of our shared goals for a sustainable future. Trust Your Supplier is dedicated to leading the charge in simplifying compliance, ensuring it’s a stepping stone rather than a hurdle. We thank everyone involved for the inspiration and look forward to continued collaboration.

As we move forward, let’s carry the momentum from SUSTAIN 2024 to create a sustainable, compliant world where businesses thrive together.

Interested in seeing how the EcoVadis integration works in TYS? Book a meeting!

Harnessing the Power of Feedback

The Vital Role of Product Feature Enhancement Loops in Trust Your Supplier Development

by Michelle Armstrong, TYS Global VP of Value Solutions Consultant

In an era where business landscapes are continuously reshaped by technological advancements and regulatory shifts, the success of a digital procurement platform like Trust Your Supplier (TYS) hinges on its ability to evolve swiftly and efficiently. The catalyst for such evolution? A robust product feature enhancement feedback loop—a cyclical process where user input becomes the bedrock for continuous product improvement.

Why is such a loop indispensable? The procurement domain, brimming with compliance requirements, ever-changing sanctions, and volatile sourcing needs, demands a platform that not only keeps pace but also anticipates and preempts market trends. TYS, standing at the crossroads of innovation and customer-centricity, leans on feedback loops to steer clear of obsolescence and foster a climate of perpetual advancement.

Central to this feedback-centric approach is the agility of TYS’s developmental practices—an agile methodology that not only supports but thrives on the regular injection of stakeholder insights. Whether its adapting to the latest compliance and regulatory standards or incorporating the newest buzzwords that resonate with industry insiders, the agility facilitated by feedback loops allows TYS to maintain its relevance and utility in a competitive market.

This blog post aims to unfold the layers of the feedback loop, dissecting its significance in fostering the agile development of TYS and highlighting how stakeholder engagement through this process is not just beneficial but quintessential for aligning product features with the dynamic, often unpredictable, contours of compliance and sourcing.

Section 1: Understanding the Feedback Loop
At its core, a feedback loop in product development is a structured path that allows for the continuous refinement of a product based on user and stakeholder input. In the context of TYS, this loop involves four pivotal steps: collection of feedback, detailed analysis, strategic implementation of changes, and a review of the outcomes. Positive feedback loops reinforce successful features, while negative feedback identifies areas for improvement. By examining this process, we can see how TYS harnesses this dynamic to fuel its evolution and adaptability.

Section 2: The Agile Approach in TYS Development
Agility in development is synonymous with resilience in the face of change. The agile methodology, characterized by its iterative cycles and incremental improvements, fits perfectly with the ethos of TYS. This section would explore how the agile approach underpins the rapid integration of feedback into the development cycle, facilitating quick pivots and fostering a culture of continuous enhancement. It would also highlight real instances where TYS has successfully implemented agile methodologies to adapt to new industry standards or user expectations.

Section 3: Aligning with Compliance and Industry Changes
Regulatory compliance and industry trends are as variable as the winds, with each shift necessitating a change in direction for product features. TYS, within its feedback loop, uses these changes as beacons to guide development. Here, we will dissect how feedback is crucial in identifying and integrating new compliance and regulatory standards into TYS, ensuring that the platform not only meets but exceeds the requisite legal and ethical standards. Examples of how TYS has responded to recent changes in regulations or industry-wide sanctions will be detailed to illustrate this alignment.

Section 4: Engaging with Stakeholders through Effective Feedback Channels
The efficacy of a feedback loop is determined by the quality of the engagement with stakeholders. For TYS, this means establishing robust channels for communication where feedback is not just heard but acted upon. This section would delve into the mechanisms TYS has put in place to garner valuable insights from its diverse stakeholder base, including structured surveys, user forums, and direct communication lines. We’d explore how TYS not only collects this feedback but also prioritizes and translates it into tangible product enhancements.

To conclude,  the journey of Trust Your Supplier is one marked by continual learning and adaptation, driven by the invaluable insights of its users. The feedback loop is not just a tool; it’s the very heartbeat of innovation within TYS, allowing it to flex and pivot with the dynamic tides of compliance, sourcing, and market demands. As we have explored, the agile methodology empowers TYS to not just respond to changes, but to anticipate and lead them, with stakeholder engagement being the catalyst for this proactive evolution. We invite the entire TYS community to be active participants in this continuous loop, contributing to the platform’s evolution and ensuring its role as a leader in the digital supply chain ecosystem. Your voice is not just heard—it’s integral, it’s acted upon, and it’s valued as we stride into the future of supply chain management together.

Navigating Climate Disclosure

TYS Leads the Way Amid Regulatory Evolution

by Michelle Armstrong, TYS Global VP of Value Solutions Consultant

In the ever-evolving landscape of climate disclosure, recent adjustments by the U.S. Securities and Exchange Commission (SEC) have prompted a reevaluation of reporting requirements, leaving many businesses in a state of uncertainty. This shift underscores the importance of adaptable solutions like Trust Your Supplier (TYS), a trailblazer in blockchain technology, which continues to serve as a guiding light for companies navigating the complex web of regulatory compliance, including alignment with European directives. 

The Changing Face of SEC Regulations: The SEC’s recent decision to revise climate-disclosure rules omitted a proposed mandate for companies to report Scope 3 emissions, concerning emissions from supply chains and product usage by customers. While this alteration may provide temporary relief, TYS recognizes the ongoing challenges that businesses encounter in this swiftly transforming regulatory environment. 

TYS – A Pillar of Compliance: Trust Your Supplier understands that compliance is not a uniform journey for all. Leveraging innovative blockchain solutions, TYS empowers businesses to seamlessly adapt to evolving regulations. The transparency and efficiency afforded by blockchain technology enable continuous monitoring, historical analysis, and predictive insights, fostering a culture of compliance excellence. 

Addressing Scope 3 Emissions: Scope 3 emissions, which include indirect carbon emissions, present a formidable obstacle for companies. TYS acknowledges the complexities involved in quantifying these emissions, particularly amid escalating global pressure to reduce carbon footprints. With TYS, organizations can streamline the tracking of Scope 3 emissions, transforming challenges into opportunities for sustainable practices. 

Embracing Global Standards: While the SEC’s decision may alleviate concerns for some, other jurisdictions such as the European Union and California are steadfast in advocating for comprehensive climate-related disclosures. TYS recognizes the significance of aligning with global directives and stands prepared to assist companies in meeting diverse reporting obligations across various regions. 

Facilitating Supplier Collaboration: Central to Trust Your Supplier’s ethos is its collaborative ethos. TYS facilitates seamless communication and data exchange between businesses and their suppliers. As demands for Scope 3 data intensify, TYS serves as a conduit, aiding companies in acquiring the necessary information to fulfill reporting requirements. 

Looking Ahead: While the SEC’s decision offers a brief respite, the journey towards comprehensive climate disclosure persists. Trust Your Supplier remains steadfast in its commitment to empowering businesses, equipping them with the tools needed to navigate the evolving landscape of compliance. 

In a regulatory environment characterized by fluidity, Trust Your Supplier emerges as a trusted ally for businesses navigating the intricacies of climate disclosure. With TYS’s blockchain-driven solutions, companies can not only meet existing compliance mandates but also seamlessly adapt to future changes, ensuring a sustainable and transparent approach to supplier and risk management. Stay tuned for further insights from Trust Your Supplier as we continue to pioneer innovation at the intersection of blockchain technology and regulatory compliance. 

Referenced WSJ Article – The SEC Watered Down Its Climate Reporting Requirements: Here’s What That Means for Companies

Discover how Trust Your Supplier can revolutionize your supply chain security. Contact us today to learn more or to schedule a demo.