Securing Verified Data from Suppliers is at the Heart of Compliance Issues for Retailers
by Source Intelligence
on September 26, 2016
Some of the nation’s largest retailers are gathering in Washington, D.C. next week to learn more about ethical sourcing, sustainability, and environmental compliance. Retailers are facing greater risks in meeting an expanding list of regulations both in the U.S. and around the globe. This, in turn, puts increased pressure on suppliers to provide these retail customers with greater volumes of and more accurate data about their products. Compliance is becoming more and more essential.
Supply chain transparency will be on the minds of retailers at their annual Sustainability and Environmental Compliance Conference, presented by Retail Industry Leaders Association from Sept. 27-30. Source Intelligence, the international leader in supply chain transparency and management solutions, will be exhibiting at the conference.
In an era of “big data,” retailers are looking for simplified solutions to gather, analyze and compile the various reports they must file to meet regulations in the U.S. and other countries. Good data is the key to avoiding risk, especially as more regulations are placed upon retailers every year.
Retailers, however, are at the mercy of their suppliers to provide the bulk of the data they need for regulatory reports, as well as to use in their own corporate social responsibility and sustainability updates they share with consumers. Although organizations like RILA offer their members a variety of informational resources about various regulations and compliance information, such as for conflict minerals reporting, the task of gathering data and filing reports ultimately rests with internal compliance staff at retail organizations.
Some of the nation’s largest retailers already are utilizing Source Intelligence’s cloud-based compliance solutions because Source Intelligence has the largest network of suppliers and because its engagement team works with thousands of suppliers to ensure accurate data is being filed on its reporting platform.
As a one-stop source for supply chain transparency, suppliers are increasingly recognizing Source Intelligence’s network and enterprise systems are providing a simplified way to handle retailer request for information about whether products can be tied back to forced labor, restricted substances, conflict minerals, environmental damage and similar issues.
As consumers demand more transparency compliance and greater ethical practices from retailers, Source Intelligence has emerged as the most comprehensive solution for retailers who need accurate and dependable data from their suppliers.