Conflict Minerals Due Diligence Leading the Way for Better Supply Chain Risk Management
The unprecedented depth of the due diligence process required for conflict minerals compliance is uncovering surprises and risks that would have remained hidden without Section 1502 in place. Nearly 1,300 companies filed with the SEC as part of the conflict minerals compliance this past Monday. These companies now have a distinct competitive advantage: they have uncovered risks involved in managing all of the suppliers who engaged during their due diligence process. However, gaining this engagement and gathering this data from suppliers is not easy.
Source Intelligence gives companies the method to engage suppliers and gather the required information to ensure that conflict minerals filings will be successful. It provides an affordable platform coupled with the deepest research into sourcing through a multi-lingual supplier engagement team, which interacts with global suppliers 24 hours a day - every day of the year. The unprecedented efforts of this team and the Source Intelligence quality assurance systems result in the majority of filers naming Source Intelligence in their filings reporting supplier completion rates in the 80th -90th percentiles. This rate grows higher over time.
The Dodd-Frank Wall Street Reform and Consumer Protection Act Section 1502, is mandated by the federal government to provide transparency into corporate practices and reduce funding for armed groups involved in human rights violations in the Democratic Republic of the Congo and surrounding countries. Therefore, public companies must quickly gain the necessary knowledge of their supply chain and learn filing policies and procedures.
Source Intelligence is the leading provider of Conflict Minerals compliance programs, helping over 100 global brands demonstrate compliance.
To learn more, request a demo of the platform here.