Conflict Minerals Compliancy Fuels Growth For Source Intelligence
SOLANA BEACH, Calif., Aug. 14, 2013 /PRNewswire/ -- VF Corporation is the latest multi-billion dollar corporation to tap Source Intelligence to undertake their compliance with the conflict minerals due diligence requirement under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In June, the company signed a three year contract with Source Intelligence.
The Securities and Exchange Commission ruling requires publicly traded companies to disclose the origins of conflict minerals contained in their products by May 2014. "We believe the fact that VF Corporation felt we had the most compelling process and methodology for mapping and tracing their supply chain is a vote of confidence. Source Intelligence is the safe choice for VF Corporation and many other large corporations with complex supply chains that legally need to comply with the legislation," said CEO and co-founder Jess Kraus.
Source Intelligence was founded in 2009 by a unique team of compliance, scientific and technology development experts. Among the investors who are committed to the company and the cause are Ed Viesturs, a high-altitude mountaineer, who is the first American to have climbed all fourteen of the world's eighteen-thousand foot mountain peaks; Peter Morton, co-founder of the Hard Rock Cafe who sits on the board of trustees for the Natural Resources Defense Council (NRDC); and Jann Wenner, Rolling Stone Magazine founder/publisher and owner of Men's Journal and US Weekly.
"Our unique approach to developing a solution to the problem of conflict minerals compliance began long before the SEC ruling was issued," said Kraus. "We were passionate about finding solutions to global corporate social responsibility problems, and we set a goal of being first-to-market without solution to conflict minerals. We were ready the day the SEC ruling came down."
Source Intelligence is the only company offering a complete solution, handling filtering, reasonable country of origin inquiry due diligence, risk assessment and report generation. The company has already expanded its offering to address additional issues faced by retailers (and many other industries) including supply chain disruption, ethical sourcing, chemical inventory management, and supply chain management.
Source Intelligence is a founding member of the Conflict Minerals Consortium, which was formed to assist companies across industries and supply chains to meet the requirements of Section 1502 of the Dodd-Frank Act and the regulations approved by the SEC. The Consortium will host the upcoming Global Conflict Minerals Symposium in Los Angeles August 21-22, 2013 at The Omni Hotel.
The Global Conflict Minerals Symposium will provide a forum for senior corporate and compliance executives, key regulatory officials, academia and ethics officers, legal professionals, sustainability and CSR experts as well as industry leaders to share their practical experience, insights and global vision relative to meeting the requirements of this unprecedented regulation.
About Source Intelligence:
Source Intelligence®, a Source 44 Company, delivers supply chain intelligence and supplier data collection and supply chain analysis that support regulatory compliance, sustainability and social responsibility initiatives. Experts at engaging suppliers and tracing supply chains, Source Intelligence® is the global leader in Conflict Minerals SEC Compliance. Source Intelligence® combines advanced data analytics with powerful visual reporting tools to help clients gain insight into exposure and potential risks within the supply chain.
Source Intelligence® combines the best of cloud-based technology with a 24/7 Supplier Engagement Team to provide clients with the scalability, flexibility and expertise needed to turn supply chain data into something both meaningful and actionable with a range of solutions to help clients navigate the complex web of inter-relationships between suppliers across the supply chain: from supplier assessment and product and/or facility footprinting to regulatory compliance programs that trace restricted materials, identify banned substances or locate the origin of conflict minerals.
Source Intelligence® is headquartered in Solana Beach with additional offices in San Diego and San Francisco, CA.
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