1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution

Source 44’s Groundbreaking Technology Simplifies Conflict Minerals Compliance

Comprehensive solution provides a cost-effective path to compliance and due diligence outlined in Section 1502 of the Dodd-Frank Consumer Protection Act

 
PRLog - Feb. 21, 2012 - SOLANA BEACH, Calif. -- SOLANA BEACH, CA (February 21, 2012) – Source 44, a leading provider of sustainability data services and solutions, announced today it has released the next generation of its revolutionary program to simplify the process of detecting conflict minerals across a supply chain, providing retailers and manufacturers alike a cost-effective solution to meet the conflict minerals requirements set forth in Section 1502 of the Dodd-Frank Consumer Protection Act. This announcement comes ahead of the imminent ruling expected by the U.S. Securities and Exchange Commission (SEC) on the scope of Section 1502 and the nature of the relevant reporting requirements.

“While companies await the SEC’s final rule, one thing is clear: companies will have to engage in some level of due diligence with respect to the presence of conflict minerals in their supply chains,” said Dr. Jennifer L. Kraus, Source 44 Chief Scientific Officer. “No longer will knowledge of Tier 1 suppliers be enough; instead, transparency will have to carry farther up the supply chain.”

Conflict minerals are minerals mined in conditions of armed conflict and human rights abuses, notably in the eastern provinces of the Democratic Republic of the Congo. The process of determining if conflict minerals are present in products sold and distributed in commerce is complex. Given the vast network of suppliers and distributors, supply chains can become an intricate web that grows harder to manage the more complex a product is.

“Source 44 has a built a unique and innovative program that will make the process far easier and more cost effective while meeting the overall intent of Section 1502,” said Dr. Kraus. “Our process is simple and effective.”

Source 44’s Conflict Mineral Program is the most scalable and affordable solution available today. Instead of creating long and complicated spreadsheets, Source 44 uses SourceLink Technology to automate the tracing process. Proprietary algorithms in Source 44’s data management platform, Source Intelligence™, process the tracing information to assess the risk that conflict minerals are present and highlight companies and regions of particular concern. Generated product disclosure reports provide an effective way to understand potential risk, ultimately enabling companies to meet conflict mineral requirements efficiently and within budget.

“Source 44 has done the work to make conflict minerals due diligence efficient, scalable and affordable so companies don’t have to allocate internal resources to detect conflict minerals themselves,” said Jess Kraus, Source 44 President and CEO. “We are the only company that provides a comprehensive certificate of assurance guaranteeing compliance for retailers and manufacturers.”

# # #

About Source 44
Source 44 is a leading provider of sustainability data services and solutions. The company brings value to retailer and manufacturer companies by delivering a unique blend of cost-effective technology, expertise and data to rapidly improve supply chain sustainability and transparency. Source 44’s solutions for conflict minerals tracing, product footprints and supplier assessment are accessed through its innovative web-based supply chain intelligence platform: Source Intelligence™. Source 44 is headquartered in Solana Beach, CA, with additional offices in San Diego, Dallas and Nashville.

Website: source-44.com

--- End ---

Click to Share

Contact Email:
***@source-44.com Email Verified
Source:Source 44
Phone:877.916.6337
Zip:92075
Location:Solana Beach - California - United States
Industry:Business, Environment, Government
Tags:conflict minerals, sustainable supply chain, product footprint
Shortcut:prlog.org/11804951
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share