SAN DIEGO, May 22, 2015 /PRNewswire/ -- More than ever before, supply chain transparency and visibility have been on the top of minds of global businesses concerned about their reputation with responsible sourcing.
Determining how to collect compliance and sustainability data from suppliers has been an on-going challenge for brands and retailers for many years. With an ever-changing business environment and an expanding list of global regulations, companies face pressure on numerous fronts. Data collection tools that are cost-effective and efficient can help minimize risk and confusion.
Kelly: Many companies have launched responsible sourcing programs with their supply chain partners. What is the biggest challenge faced with regard to supply chain visibility?
Matt: The biggest challenge is in finding tools that automate and streamline the process of collecting and analyzing data from the supply chain. This will remain a challenge unless we can scale down to manageable and even free tools. Unfortunately, there are so many tools out there that are specialized, it's tough for a supplier who is just learning about collecting compliance data to know which ones to use or worse, having to use many tools specific to each brand or retailer.
It is true that in order to minimize and manage supply chains risks, it's imperative to have that level of visibility but it's also important to see all the disparate pieces and be able to put them together.
With so much pressure on companies to meet compliance and to go above and beyond to protect and enhance brand value, companies need to look at the tools they use to collect compliance and sustainability data and simplify the process for the companies in their supply chain. Data is valuable. Finding multiple ways to use the data that is collected helps to minimize its cost in the long run and could provide valuable intelligence to an organization.
Matt Thorn is the Chief Operating Officer and founding partner of Source Intelligence, a leading provider of data collection for Supply Chain Compliance and Sustainability Information.
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SOURCE Source Intelligence