UL Boosts Supply Chain Services
Safety science company Underwriters Laboratories today launched its Information & Insights division, created to meet the growing demands by businesses (and customers they serve) for more sustainably made products — including housewares, beauty supplies, cleaning products and consumer technologies from computers to smart devices — and sustainable supply chains.
This demand has been brought on by the growing concern that many products are being created with materials, ingredients and components that have been proven to be either dangerous to use, caustic to consume, poisonous for the environment or developed through socially unacceptable practices, UL says.
With UL’s acquisitions of GoodGuide, The Wercs and Prospector (formally IDES and Innovadex), I&I, through its SaaS technology platform, is a one-stop-shop for material, component and product insight, the company says.
UL says I&I solves the issue of inventory risk by optimizing the “end-to-end” data flow between key supply chain stakeholders including: suppliers who demand that all proprietary source information be safeguarded through controlled access; manufacturers who require current, easy-to-index materials and/or ingredient insights across the supply chain, for ensuring greater regulatory compliance; retailers who need ongoing access to granular product information in order to mitigate inventory risk and lastly; consumers who are now making better informed purchasing decisions based on sourcing choices and the proven sustainability of a product.
With I&I, business decision makers have full insight into their supply chains with the ability to screen and eliminate materials, components and products that are not sustainable or that might cause downstream inventory risk, the company says.
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