What is German Act on Corporate Due Diligence Obligations in Supply Chains in SAP ORG-LX-T9N - Team: Corporate Translation?

SAP Term: German Act on Corporate Due Diligence Obligations in Supply Chains

• Component: ORG-LX-T9N

• Component Name: Team: Corporate Translation

• Description: Law effective 2023 placing companies that have their administration, principal place of business, administrative headquarters, statutory seat, or branch office in Germany under the obligation to respect human rights, by implementing defined due diligence obligations along the entire supply chain.

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• Key Concepts: 
  The German Act on Corporate Due Diligence Obligations in Supply Chains (Lieferkettengesetz) is a law that was passed in Germany in 2017. It requires companies to take responsibility for their supply chains and ensure that their suppliers are not engaging in human rights violations or environmental damage. The law applies to companies with more than 3,000 employees and requires them to conduct due diligence on their suppliers and report any violations.
  
  How to use it: 
  Companies must comply with the German Act on Corporate Due Diligence Obligations in Supply Chains by conducting due diligence on their suppliers and reporting any violations. Companies must also develop a risk management system to identify, assess, and mitigate risks in their supply chains. Companies must also provide training to their employees on the law and its requirements.
  
  Tips & Tricks: 
  It is important for companies to stay up-to-date on the latest developments in the law and ensure that they are compliant with its requirements. Companies should also consider using SAP software to help manage their supply chain due diligence processes. SAP software can help companies identify risks, assess them, and develop strategies to mitigate them.
  
  Related Information: 
  For more information about the German Act on Corporate Due Diligence Obligations in Supply Chains, please visit the German Federal Ministry of Justice website: https://www.bmjv.de/EN/Topics/Corporate_Social_Responsibility/Corporate_Social_Responsibility_node.html