Inspection software may be the next biggest thing to ensure that “transparency” is truly transparent.
SaaS network platform Inspectorio said its new “Rise Module” will enhance environmental, social and labor transparency by allowing brands, retailers and suppliers to audit their production chains for responsible sourcing — which means that real-time data, transparency and tools will be available to users, serving to “strengthen the production ecosystem and enhance continuous improvement,” all according to the company.
Its Rise module improves transparency for brands, retailers, vendors, factories and third-party verification companies by producing Supply Chain Responsibility and Sustainability Compliance reports that provide context and transparency — so users can hold themselves accountable. The reports are based on industry standards, or standards set by the companies themselves and include support materials to help guide vendors, in addition to e-learning certificate courses, all of which can be utilized or assigned on the platform.
The launch is timely, as 86 percent of companies in the S&P 500 Index published sustainability or corporate responsibility reports in 2018, a significant increase from a mere 20 percent in 2011, Inspectorio noted. “Transparency, responsible sourcing, environmental and social compliance are no longer the purview of select, environmentally focused companies but have become integral to brands and retailers who recognize the link between social and financial returns,” the company said.
And Inspectorio announced its partnership with the Social & Labor Convergence program, or SLCP, a multistakeholder initiative that created an industry-wide assessment methodology for collecting and verifying social and labor data, which aims to “reduce the need for duplicative audits and free up resources to improve working conditions,” the company said. Inspectorio added that after a “rigorous testing period,” the firm is now an SLCP Passive Accredited Host.
Carlos Moncayo Castillo, cofounder and chief executive officer of Inspectorio, said social and environmental responsibility is “no longer simply an option,” as it has become an expectation for companies wishing to remain competitive and lead in their respective fields. “Brands and retailers are now in a position where they must not only monitor their production chains, but support and improve them — and be able to communicate their findings in terms of social and environmental impact as well as provide context of how they relate to their organization’s broader mission.”