Sourcemap, a global provider of supply chain transparency and traceability software, announced a partnership with risk intelligence firm Kharon to boost business compliance in the face of emerging trade legislation across the U.S. and the E.U.
In order to ensure that their businesses are in compliance with current and future import regulations, Sourcemap's customers, which include major international manufacturers and brands, will be able to automatically check their real-time, end-to-end supply chain maps against Kharon's leading Forced Labor dataset.
The Uyghur Forced Labor Prevention Act (UFLPA), which was passed by the U.S. in June 2022, forbids the importation of goods that were entirely or partially produced utilizing forced labor. In order to assist companies in demonstrating the absence of forced labor in their imports and to provide visibility into every stage of the supply chain, including raw materials, ownership structure, distribution, and more, Sourcemap introduced the Forced Labor Due Diligence Solution in advance of the enforcement deadline.
With the new integration with Kharon's Forced Labor dataset, Sourcemap's customers will have access to thousands of high-risk entities and their subsidiaries, units, vendors, facilitators, and affiliates, including those based in or operating close to areas with connections to forced labor. This will increase the scope and depth of analysis.
Kit Conklin, Vice President of Global Client Engagement at Kharon, said that concerns about forced labor are receiving more attention from consumers, regulators, and enforcement agencies. Companies realize that dangers associated with business and forced labor are now inextricably linked. The integration of Kharon's data into Sourcemap's Forced Labor Due Diligence Solution provides assurance to businesses working to address and remove forced labor exposure from their supply chains.
Customers of Sourcemap discover, on average, more than 10,000 new suppliers within their supply chains thanks to the platforms more than 500,000 business entities from the apparel & textiles, home goods, food & agriculture, pharmaceutical, automotive, and luxury goods sectors that are registered users. Customers of Sourcemap will now gain deeper, more useful insights to end forced labor and de-risk international supply chains thanks to integration with Kharon's Forced Labor dataset.
Leonardo Bonanni, CEO & founder of Sourcemap, added that as more countries throughout the world adopt forced labor-related trade restrictions, it's evident that every business entity has skin in the game to guarantee that supply chains work as smoothly as possible. Their customers have an international reach, and they look to Sourcemap to lead the way in supply chain transparency and provide a solution to help traverse new norms for greater commercial and social impact.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide