September 17, 2014
UL’s newest division finds conflict minerals hiding in complex global supply chains and helps companies meet reporting requirements
September 16, 2014 – Northbrook, IL – UL’s Information & Insights (I&I) division has a comprehensive lineup of supply chain information, tools and subject-matter experts that can help companies identify conflict minerals sources and put the mandated comprehensive, audit-traceable reporting procedures in place quickly and cost-effectively.
Most corporations struggling to meet the Dodd-Frank Section 1502 reporting requirements still don’t know if their products contain conflict minerals or not. The opacity of today’s complex and dynamic global supply chains can easily obscure the source of minerals and other raw materials, and hide all kinds of surprises. In fact, the conflict minerals challenge illustrates how far industries still are from supply chain transparency, and the key role that transparency plays in achieving sustainability goals.
Issues in modern supply chains now have a much greater impact on the world than we ever anticipated. They are a confusing informational labyrinth that is hampering sustainability initiatives by hiding harmful product attributes. UL I&I has assembled an unparalleled combination of supply chain data, tools and expertise—the preventative intelligence companies need to vet and remove conflict minerals and other non-sustainable materials.
Dodd-Frank requires affected companies to focus on conflict minerals right now, to verify all impacted raw materials are coming from ethical sources. However, a supply chain may have thousands of first-tier suppliers, with tens of thousands more behind them. Tracing raw materials back to their source is daunting, labor-intensive and time-consuming.
Fortunately, UL’s I&I division has a solution to the conflict minerals problem, and it is one that will also improve supply chain sustainability across the board. Some specific capabilities of the WERCSmart Conflict Minerals Platform include:
- A state-of-the-art SaaS platform that delivers real-time product-attribute intelligence
- Database and decision-support tools for collecting and reporting on information from suppliers, for making smarter decisions about sourcing
- Assessment tools for vetting products, investigating sources, and monitoring sustainability performance improvement across the supply chain
- Program development and advisory services that help companies design and implement due-diligence practices for sourcing raw materials in compliance with traceability requirements
Consumers and regulators continue to voice a need for higher standards on corporate sustainability initiatives. As such, when businesses choose a conflict minerals solution, there is a great benefit to selecting a much broader sustainability framework. UL I&I offers an unmatched combination of subject-matter expertise, global footprint, field support, technology platforms, and history of trust, neutrality and integrity.
To learn more about UL I&I’s WercSMART: Conflict Minerals, please join a free webinar on October 15 at 9:30 am CST. Register online here.
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.