(image: Korea Bizwire)
FORT WALTON BEACH, Fla., June 7 (Korea Bizwire) – Source Intelligence, the industry-leading SaaS company for supply chain compliance and transparency, announces the release of its Human Rights Assessment (HRA) solution to prepare companies for the enforcement of the Uyghur Forced Labor Prevention Act (UFLPA). While the HRA solution was created in response to the UFLPA, its functionality is universal, encompassing a vast number of regulations worldwide.
“Per the rebuttable presumption, goods produced in Xinjiang, China are automatically presumed to be made with forced labor. When the UFLPA becomes effective on June 21, 2022, all products from that region will be detained in customs,” explains Mike Flynn, Chief Product Officer. “We set out to create a solution to help our customers remain compliant with this new regulation.”
The HRA solution layers a multi-tier supplier assessment with a proprietary risk scoring algorithm and geographic regional risk overlay to provide users with a single, comprehensive supply chain view. The supplier risk data enables companies to immediately develop an action plan and due diligence program to remain compliant with a growing list of human rights due diligence laws.
“Most companies do not know who their suppliers are or how they are operating, which means they cannot fully comply with forced labor regulations,” says Jackie Madarang, Director of Product and Regulatory Compliance. “The purpose of the HRA solution is to gather and evaluate supplier data to find the highest risk of human rights violations regardless of industry, region or regulation.”
The HRA supplier assessment uses universal principles and requirements for human rights protection and identifies areas of risk for human rights violations with the supplier’s operations and their supply chain locations. The evaluated areas include supply chain tracing, universal principles, global regulations, policies and practices, country, and region. With all five of these assessment areas, the solution is the most comprehensive on the market.
“Bottom line – the purpose of the HRA solution is to protect people,” states Madarang. “As part of responsible business conduct and a human rights due diligence process, it’s designed to identify and stop human rights abuses.”
The Source Intelligence Human Rights Assessment solution is available now and is recommended to be implemented as soon as possible, as the UFLPA, in addition to current regulations, will restrict products presumed to be made with forced labor from entering the U.S. To learn more about human rights regulations, interested parties are encouraged to contact Source Intelligence and request a demonstration.
About Source Intelligence: Source Intelligence is the leading provider of SaaS Supply Chain Compliance solutions with over 100 years of regulatory and compliance expertise. Source Intelligence solutions are backed by industry experts to gather and validate supply chain data for over 300,000 companies for regulatory compliance, risk management, and ESG initiatives.
Press Contact: Amanda Lindberg, Director of Marketing
Phone: 877.916.6337
Email: amanda.lindberg@sourceintel.com
This content was issued through the press release distribution service at Newswire.com.
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Source: Source Intelligence via GLOBE NEWSWIRE
