Companies Ready? Increased Scrutiny in Conflict Minerals Reporting
Companies Ready? Increased Scrutiny in Conflict Minerals Reporting
With only 5 months away until the next conflict minerals reporting deadline, companies are mobilizing to address conflict minerals in their supply chains. Reporting year 2015 will mark the first year companies that are subject to Section 1502 of the Dodd Frank Act will no longer be able to file “undeterminable” in their reports.
The verification of supplier-provided information is an ongoing effort for conflict minerals due diligence. Thousands attended Source Intelligence’s (SI) Smelter Verification webinar to safeguard their reporting data and are now utilizing SI’s smelter verification program to complete their reporting efforts. Due to the unprecedented attendance for the smelter verification for conflict minerals webinar, SI released the white paper: Moving Beyond Supplier Provided Information, A Guide to Smelter Verification. The white paper includes industry leading knowledge on implementing a manageable solution that maintains a stream of quality smelter information, and how to overcome supplier provided data discrepancies.
Conflict Minerals compliance efforts have increased as companies realize the strategic benefits of having a transparent supply chain. "With audits and product level reporting requirements, global brands and their suppliers are not taking any chances with 'free' or 'do-it-yourself' approaches," commented Lina Ramos, Source Intelligence Chief Business Officer. "The internal human resources, language skills and lead times necessary to make these approaches viable caused a huge surge in demand for our guaranteed services after first year filings in June 2014." SI’s case study based E-Book for conflict minerals compliance in 2015 has provided numerous companies with key success factors for an effective conflict minerals compliance program. Additionally, the U.S. Dodd Frank conflict minerals regulation has initiated increased support from human rights groups and NGO’s. Recently, the Enough Project shared the Conflict Minerals EBook to their network on Twitter, urging companies to make a difference in the fight against conflict minerals. For a more detailed look at the case study based insight ebook on conflict minerals, you can download it here.
About Source Intelligence
Source Intelligence® is a next generation supplier management software company that provides a SaaS platform to help customers make informed decisions about their business partners and suppliers, so they can offer products that meet legal, ethical, and environmental standards. Its cloud-based information and analytics platform provides customers with unprecedented visibility into product supply chains and material sources. Founded in 2009, Source Intelligence® has headquarters in Carlsbad, California and has operations around the world. To learn more, request a demo of the platform here.
