SAN MARCOS, Calif.–(BUSINESS WIRE)–Everstream Analytics, the global supply chain insights and risk analytics company, today at Web Summit 2022 announced the expansion of its multi-tier ESG visibility layer to expose the use of child and forced labor in the sourcing and production of commodities. Using its proprietary multi-tier visibility solution, integrated with Everstream’s end-to-end supply chain risk management platform, companies now have visibility deep in their supply chain to uncover unethical business practices at the difficult-to-trace commodity level.
With the complex and interconnected nature of the global supply chain, forced labor remains a real threat to every manufacturer. As of September 28, 2022, the Bureau of International Labor Affairs identified 158 products from 77 countries that it has reason to believe are produced by child and forced labor – including everyday food items, rare earth minerals, and consumer goods. Not only does the use of forced labor threaten reputation and consumer trust, but emerging legislations like the U.S. Uyghur Forced Labor Prevention Act, the German Supply Chain Act, and the upcoming EU Supply Chain Law will hold brands accountable for exploitation occurring anywhere in the supply chain.
World events, such as COVID-19 and extreme weather, have disrupted global supply chains and created raw materials shortages across nearly every industry. Everstream customers have already saved millions this year with advanced warnings on potential commodities shortages. Now, the platform goes even further by identifying raw materials’ origin, processing locations, and related risks with real-time updates from Everstream’s EA UFLPA Watch List to include known aliases, subsidiaries or corporate connections, customers, and their customers. Powered by Everstream Discover, users gain a clear map of their multi-tier supply chain and now can conduct custom, location-based analysis to identify and eliminate unethical suppliers, demonstrate compliance, and make strategic sourcing decisions on critical commodities.
“The toughest thing our customers face when identifying risk is finding the source of their raw materials. Companies may unknowingly be sourcing mine-conflict minerals, goods created in child labor conditions, lumber from illegal wood harvesting, and so on. Additionally, if you don’t know the source location, you are unable to see what location-based risks may be present,” said Julie Gerdeman, CEO, Everstream Analytics. “Our deep commodities insights take an incident-based view at all levels of a company’s supply chain, helping them identify real-time and near-term risk to make alternative sourcing decisions or change plans accordingly. This technology is a game changer for companies focused on sustainability, compliance, and risk management.”
Everstream’s access to proprietary data goes beyond competitors to give clients visibility into every network, component, ingredient, and raw material worldwide. The platform combines data based on billions of supply chain interactions with powerful AI, advanced analytics, and graph technology to produce long-range strategic risk assessed at the material, supplier, and facility location level for entire multi-tier networks. As networks and risks change, so does the assessment.
To learn more about the expanded ESG visibility layer for commodities and Everstream Discover, visit: https://www.everstream.ai/solutions/discover-supply-chain-mapping/.
About Everstream Analytics
Everstream Analytics sets the global supply chain standard. Through the application of artificial intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics businesses need for a smarter, more autonomous and sustainable supply chain. Everstream’s proven solution integrates with procurement, logistics and business continuity platforms generating the complete information, sharper analysis, and accurate predictions required to turn the supply chain into a business asset. To learn more, visit https://www.everstream.ai/.