Minimize Cost of Reporting and Increase Supplier Participation Rates
Milpitas, CA – August 7, 2014 – Resilinc Corp., the leading provider of end-to-end supply chain resiliency solutions, today announced a new version of its award winning Resilinc Conflict Minerals Module™ focused on driving down the costs of conflict minerals reporting and dramatically increasing supplier participation rates across global supply chains.
Resilinc’s new release features a supplier network-based approach enabling suppliers to publish CFSI templates once and share them with many customers. Combined with best-in-class services around supplier on-boarding, training and data validation, and automated reasonable assessment tests to pinpoint incorrect responses, this unique supplier network-based approach enables faster categorization and follow-up. Suppliers use the Resilinc platform free of charge to save time and resources, fueling their willingness to participate – and resulting in the highest completion rates and quickest time-to-compliance for their customers.
Finally, Resilinc features the industry’s first fully automated outbound template generation capability for customers at the product, product family, customer’s customer or corporation level. This unique capability simplifies their efforts in reporting to stakeholders.
Next-Generation Features Lower Compliance Costs and Maximize Results
The Resilinc Conflict Minerals Module™ addresses these and many other challenges through next-generation features including:
- A network-based approach that enable suppliers to save time and effort by publishing their CFSI template once, then securely share it across their entire customer base simply by approving their access.
- No cost to the supplier since suppliers use the Resilinc platform at no charge.
- Extensive supplier on-boarding and training services in multiple languages and time zones to increase supplier participation rates.
- Fully automated reasonable assessment tests to quickly categorize incorrect responses and facilitate faster follow-up to improve accuracy of the final submission.
- Fully automated conflict minerals template creation from consolidated supplier responses that fast tracks outbound conflict minerals reporting to customers by streamlining the time required to analyze supplier inputs.
Unique Multi-tier Mapping Capabilities Help Ensure Conflict Minerals Compliance
The Resilinc Conflict Minerals Module™ is the only conflict minerals product fully integrated with a multi-tier supply chain mapping solution, enabling conflict minerals compliance efforts to leverage the company’s existing store of information about a supplier’s sub-tier supply chain. Resilinc’s conflict minerals compliance module, paired with the company’s industry leading multi-tier supply chain mapping capability, enables best-in-class companies to follow the letter of the law and demonstrate their willingness to go above and beyond in complying with the regulatory intent of the Dodd-Frank Act. While many companies are still struggling with the process of tracking conflict minerals and tracing materials back to the source of origin, the task turned out to be relatively routine for Resilinc Conflict Minerals Module™ clients.
Not just a compliance program
Resilinc enables companies to make conflict minerals compliance yield real business benefits to the global supply chain as well. By mapping their suppliers globally and across multiple tiers, Resilinc’s clients are able to proactively design their supply chain and sourcing networks to reduce exposure to potential risks and capacity bottlenecks in the sub-tier supply chain. In addition, by enabling identification of the component level composition of 3TG metals at a part number level, Resilinc helps its clients understand how commodity pricing and availability trends will impact specific components in their supply chain.
“As the results achieved by Resilinc Conflict Minerals Module clients clearly demonstrate, we are changing the game in conflict minerals compliance,” said Bindiya Vakil, CEO, Resilinc. “Our clients are demanding solutions that save money, improve compliance accuracy and increase supplier participation rates while delivering real value and efficiency to suppliers in an integrated solution. With the new release of the Resilinc Conflict Minerals Module, we are delivering those benefits and more.”
The Securities and Exchange Commission adopted a provision mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act to require companies to publicly disclose their use of conflict minerals that originated in the Democratic Republic of the Congo (DRC) or an adjoining country. Compliance challenges faced by supply chain organizations include resource intensive processes leading to increased costs, low supplier participation rates and data inaccuracy.
Resources and Links
- Click to download the Conflict Minerals Compliance solution brief
- Click to download the whitepaper “Cashing in on Risk Mitigation: The Business Case for Supply Chain Resiliency”
- Click to sign up for Resilinc EventWatch™ Professional, the leading global disruption event monitoring service.
Resilinc is the leading provider of global supply chain resiliency solutions and delivers scalable enterprise solutions that enable supply chain professionals to gain visibility across multiple tiers of their complex, global supply chains. With a comprehensive offering that encompasses multi-tier supply chain mapping, single points of failure analytics, global disruption event monitoring and management, mitigation workflow, and part-level supply chain compliance programs such as conflict minerals, Resilinc has become the leader in comprehensive supply chain resiliency solutions. Resilinc helps customers achieve supply chain resilience through innovative and patent-pending technology, an extensive resiliency-driven supply network, and a proven comprehensive enterprise scale supply chain software solution that delivers strong value to both clients and supplier partners. For more information, visit https://www.resilinc.com.