Tradeshift Joins FRDM to Launch App to Help Address Slavery in Supply Chains
SAN FRANCISCO--(BUSINESS WIRE)--Jan 11, 2019--As human trafficking continues to plague communities worldwide, Tradeshift, the leader in supply chain payments and marketplaces, has partnered with FRDM (formerly Made In A Free World) to announce today plans to help businesses detect and mitigate human trafficking in their global supply chains. The FRDM-developed app, built on the Tradeshift platform, enriches the entire Tradeshift ecosystem by allowing any business on the Tradeshift platform to simply turn on the app to start monitoring human trafficking. For many businesses, FRDM makes it far easier for internal stakeholders--like Chief Sustainability Officers--to persuade CIOs, CPOs, and CMOs to start treating supply chain slavery as an essential corporate medicine to take for the health of their entire supply chain.
The FRDM-developed app allows companies to proactively create an early detection of supply chain risk in human trafficking. It brings the most comprehensive forced labor database analytics capability to Tradeshift’s innovative supply chain network, without requiring customers to manually integrate their procurement solution with the database. As an app, it is easy to activate and use on day one, requiring no integration.
The app is specifically designed to analyze purchase data, atomize risks, and protect corporate values while ensuring compliance with international regulations. With FRDM, Tradeshift users can trace and monitor social risks at every level of their supply chain, from raw materials to finished goods. The application combines global trade flow data with supplier and purchase level details to provide enterprises with multi-tiered visibility.
“We provide a platform for a community of businesses and consumers to buy better through the use of FRDM,” said Justin Dillon, CEO of FRDM. “This idea started in 2011 when the organization I founded partnered with the U.S. State Department to build the Slavery Footprint platform, combining product data with consumer purchase data to provide footprints of close to 30 million people worldwide. In joining with Tradeshift, we aim to make these tools available to the world’s most influential corporations. Consumers, investors, and governments expect companies to act on this.”
With an estimated 16 million slave laborers layered into global supply chains, legislation from the US to the UK to Australia requires businesses to provide transparency into their operations by reporting on the actions they are taking to address modern slavery in their business and supply chain.
“No company ever says that slavery-based revenue is OK,” said Tradeshift CEO, Christian Lanng. “But companies still don’t take action because it’s just too complicated to marry the analytics with the purchasing decisions. We believe that making this step frictionless is not just a compliance question from a business operations perspective, but, more importantly, a fundamental moral issue. And it’s one that must be resolved. We can help do that and this partnership is confirmation of our commitment.”
Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com.
FRDM is a supply chain risk analysis and monitoring platform designed to monitor Environmental, Social, and Governance risks within supply chains. FRDM is the only platform offering end-to-end risk optics including: primary inputs, products, product categories, and suppliers. Customers can explore their company’s risk through intuitive data visualizations and push alerts via the FRDM dashboard. FRDM assists with reputation management, regulatory compliance, and risk mitigation against challenges like forced and child labor in supply chains. FRDM helps companies buy better by building a values-aligned supplier network. frdm.co
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CONTACT: Dave Pedersen
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SUPPLY CHAIN MANAGEMENT SOFTWARE MOBILE/WIRELESS PROFESSIONAL SERVICES FINANCE RETAIL
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PUB: 01/11/2019 09:00 AM/DISC: 01/11/2019 09:01 AM