NORTHBROOK, Ill., June 16, 2014 /PRNewswire/ -- UL, the global independent safety science leader, announced today the expansion of its Information & Insights (I&I) service division. On the heels of acquiring GoodGuide, IDES, Innovadex and The Wercs, as well as launching the division's website, I&I has become the one-stop-shop for material, component and product insight.
Backed by science and enabled through a state-of-the-art SaaS technology platform, the growing I&I division is designed to address one of the biggest safety challenges of our time: the demand for more sustainable products within today's complex, globally diverse supply chains. Currently, the flow of supply chain information used to identify non-sustainable materials, components or products is often times either limited or constricted, resulting in costly product recalls and the potential loss of billions of dollars due to inventory rendered unusable.
I&I solves the issue of inventory risk by optimizing the "end-to-end" data flow between key supply chain stakeholders including: suppliers who demand that all proprietary source information be safeguarded through controlled access; manufacturers who require current, easy-to-index materials and/or ingredient insights across the supply chain, for ensuring greater regulatory compliance; retailers who need ongoing access to granular product information in order to mitigate inventory risk and lastly; consumers who are now making better informed purchasing decisions based on sourcing choices and the proven sustainability of a product.
With I&I, key business decision makers have full insight into their supply chains with the ability to screen and eliminate materials, components and products that are not sustainable or that might cause downstream inventory risk. And, through it's close association with parent company UL, I&I offers customers extended value with access to industry-leading scientists, an extensive service network for product certifications, onsite and environmental audits and over 120 years of trusted product evaluation, testing and safety certification expertise.
"We are very excited about the continued expansion of UL's I&I division," stated Sara Greenstein, President of UL's Supply Chain & Sustainability Business Unit. "I&I was created to drive the much-needed connectivity of data across all supply chains, and to enable product decision-makers to source and buy sustainable materials, components and products faster and with far greater quality assurance. Our mission at I&I is to enable the mass adoption of safe, healthy and sustainable products based on improved supply chains that everyone - from businesses to consumers - can benefit from."
The expanding I&I division marks another key step in the transformation of all global supply chains by empowering companies to enhance the value of their product offerings, through increased visibility into the production of more sustainable products. I&I breaks down the siloed walls of current supply chain data sharing processes by offering greater information granularity throughout the entire supply chain from the beginning of product sourcing and development to market acceptance.
"UL's I&I division expansion is happening at exactly at the right time," said Mathieu Guerville, Director of Strategy and Business Development. "In light of today's heightened consumer safety concerns, coupled with the growing demand for sustainable products, I&I provides the right kind of 'preventative intelligence' needed by product designers. More importantly, I&I is helping companies to increase their revenue potential by creating safer, more sustainable products. Sustainable profitability is the future of the supply chain, and I&I is the change agent and platform that all companies should consider using."
About UL UL is a premier global independent safety science company that has championed progress for 120 years. Its more than 10,000 professionals are guided by the UL mission to promote safe working and living environments for all people. UL uses research and standards to continually advance and meet ever-evolving safety needs. We partner with businesses, manufacturers, trade associations and international regulatory authorities to bring solutions to a more complex global supply chain. For more information about our certification, testing, inspection, advisory and education services, visit http://www.UL.com.
About UL I&I UL's I&I intelligence tools and related services give companies trusted insight to easily manage complex global supply chains, both efficiently and holistically. I&I provides access to the world's most comprehensive chemical, material, components and product data, designed to mitigate inventory risk, manage regulatory complexities and improve overall supply chain decision-making processes. UL fosters innovation by providing streamlined, searchable access to essential data necessary to make informed, timely choices about sources, materials, ingredients and finished products. With I&I, tools, businesses can develop superior products and create sustainable profitability. For more information about I&I, please visit: www.ulinsights.com.
CONTACT: Lyndi Bandur UL Information & Insights UL LLC T: (847) 840-8568