Source Intelligence: Disrupting Supplier Risk Assessment

Today, businesses function in a global environment. Building a brand that delivers the right product to the right buyer globally at the right price requires diligent Supply Chain Management (SCM). All areas of operations are impacted from design to procurement to manufacturing and delivery. Multinational corporations, globally expanding brands and manufacturers require supply chain risk assessment to ensure legal and ethical sourcing. Ensuring a company’s most valuable asset – its brand reputation – is protected. Leading corporations seek strategic SCM to maximize their customers’ value and achieve sustainable competitive advantage. For nearly a decade, Source Intelligence has led the industry with a solution that uses technology to simplify supply chain compliance and bridge the gap between traditional onsite diligence and a scalable supplier risk assessment.

Source Intelligence is a market-leading SaaS solutions company, focused on supply chain compliance, data analytics, and risk management. The company’s unique blend of experts, technology and process achieves high response rates in securing and verifying critical supplier information.

“Using technology to categorize suppliers by risk allows Blue-Chip Companies to optimize their on-site audit resources”, commented Jess Kraus, CEO and co-founder at Source Intelligence. The company brings visibility into the supply chains of companies globally. By doing so, it ensures legal and ethical sourcing while seeking to eradicate atrocities that harm people and the planet such as modern day slavery, toxic water, and deforestation.

Entrepreneurial Architect

Jess F. Kraus, CEO and co-founder, under whose leadership, Source Intelligence has become the leading provider of innovative supply chain compliance data services and solutions. He has over 30 years of experience in the fields of environmental protection and sustainability. Prior to Source Intelligence, Jess founded 3E Company and served as a President, CEO and lastly as a Vice Chairman. He is a visionary and a builder in many business and civic organizations, including Young Presidents Organization/World President’s Organization (YPO/WPO) and the San Diego Business Innovation Center and was recently named CEO of the year and a ‘Pro to Know’.

Enabling Transparency

The Source Intelligence platform delivers a flexible and highly scalable global supply chain solution. This centralizes a supplier’s supply chain information on a single platform, simplifies compliance, enables transparency and drives decisions with data. Suppliers, partners, vendors, small businesses, and global brands can securely and proactively address their compliance and transparency needs.

This cloud-based platform includes:

  • Multi-tier supply network, where Companies at any tier of the supply chain can connect to their customers and suppliers, thus creating a true supply chain network.
  • Supplier request workflow, which enables quick and easy implementation of any process for supply chain data collection at corporate or product level.
  • Supplier Data Sharing, a fully featured multi-language supplier platform that includes features for users globally to self- admin their compliance programs.

Transforming Roadblocks into a Robust Platform

According to companies worldwide, the product safety and social compliance within the context of a cross-border and decentralized market place is a key challenge. While traditional retail, with fixed locations and clear sales territories enables stricter enforcement of compliance within a country’s regulations, a border-less market place has led to a supplier review challenge of global proportions. Only a technology-enabled approach can cost-effectively address this problem.

Compounding the issue, a rapidly changing regulatory landscape creates significant roadblocks for brands to keep pace with compliance requirements across the globe. To address this need, Source Intelligence conducted roundtables with top industry influencers to become both, an educator and a leader, in building a robust platform that was easily adaptable to any industry standard, customized company requirements or regulated compliance need in any market. It enables all companies to monitor and control the product compliance and social compliance of the brands they seek to protect.

The platform comprises of features that cover:

  • Allows customers to move past the collection of hard, raw data and allows for automation, evaluation, analyzation, and streamlined implementation.
  • Allows for customization by customer / industry, and implementing new programs and collecting data exactly the way it is requested.
  • Detailed supplier engagement metrics allowing users to understand suppliers that are at risk and those that are highly engaged.

Ensuring Customer Efficiency

The Source Intelligence platform centralizes compliance solutions. Through this platform the company enables its customers to optimize supplier relationship building, data collection, quality control & management, and customizable assessments. Apart from these, it also provides superior & intuitive supplier interface to its clients having a live and personalized support with proven, robust and audit-tested processes. The company’s strategic data analytics and visualization process ensures automated flags for reporting inconsistencies and risk. By doing so, customers can get customizable programs and tailored views for their risk categories of interest.

Source Intelligence has a global network which assists suppliers to overcome their resistance and fatigue. The team at Source Intelligence comprises of dedicated experts with deep experience in supply chain, compliance and transparency.

Leading the Way with Emerging Technologies

The emerging technologies are influencing businesses to adopt new innovations. Similarly, the impact of those technologies has stimulated Source Intelligence too. As a result, the company is working to bring Artificial Intelligence (AI) into the compliance world. Although, it is a complex and labor intensive task, there is a natural fit in bringing AI to bear to help its customers achieve greater compliance over a larger supply chain with less resources. Leading the way in this area, the company has collected a massive amount of data and raw materials information.

Beyond 2018, Source Intelligence is looking forward to adopt blockchain technology. The tokenization system of blockchain agitated company more than its immutable ledger feature. This is where Source Intelligence believes the blockchain technology holds great promise for incentivizing compliance activities in the supply chain.

Source :-The 10 Best Performing Supply Chain Solution Providers 2018