Fortune 100 Consumer Electronics Company Chooses MetricStream For Supplier Governance, Sustainability, And Corporate Social Responsibility
PALO ALTO, Calif., March 8, 2013 /PRNewswire/ -- One of the world's largest and most admired consumer electronics companies has chosen MetricStream to manage their supplier governance, sustainability, and corporate social responsibility (CSR) programs.
The MetricStream solution will enable enhanced supply chain governance by consolidating all supplier information into a single system, enabling continuous compliance monitoring and audits across the supply chain, and improving visibility into supplier risks, financial health, performance, and other critical supplier data. The solution will also strengthen the organization's commitment to corporate social responsibility and sustainability initiatives by streamlining social compliance audits, tracking trade compliance, managing conflict minerals assessments and reporting, and enhancing collaboration with suppliers around corrective and preventive actions.
As one of the largest consumer electronic brands, the company has an extensive supply chain comprised of thousands of suppliers around the world. As the organization continues to increase the number of its product lines and business units, as well as enter into new markets, the complexity around managing their global supply chain has increased exponentially, leading to multiple tiers of suppliers, supplier information silos, and data duplication, all of which drives the need for greater top-level visibility into broader supplier risks and compliance. In addition to supporting the entire vendor onboarding process and self-certification by suppliers across multiple tiers, the MetricStream solution will also automate the process of supplier risk assessments across financial, sustainability, concentration, geographical, and other risk areas to enable the company to better manage the entire gamut of risk, compliance, audits, and performance management across their suppliers.
The consumer electronics company conducts frequent and comprehensive audits to monitor their suppliers' compliance with Code of Conduct requirements around employee health and safety, labor and human rights, working hours, and ethics. The MetricStream solution will simplify and strengthen their audit management programs using the solution's capabilities around configurable audit scoring methodologies, automatic alerts, and real-time tracking of audit processes and corrective actions. The solution will also facilitate audits for compliance monitors and suppliers by enabling auditors to define each audit plan, scope, methodologies, templates, metrics, and schedules. In addition, the solution's compatibility with tablets and other handheld devices enables auditors to seamlessly collect audit data, make observations, and take pictures as they tour each supplier facility.
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