In order to ensure compliance with the Supply Chain Due Diligence Act (LkSG), E/D/E has been working with the service provider Prewave since April 1, 2023. The AI-based software solution from the innovative Viennese provider uses machine learning to identify risks in the supply chain. It evaluates information in over 100 languages, classifies more than 700,000 companies worldwide with regard to regulatory requirements and analyzes them in terms of their compliance with sustainability requirements. This can also offer advantages for small companies that are not yet obliged to comply with the LkSG.
The partnership between E/D/E and Prewave enables national and international members of the Wuppertal buying association to use the innovative technology. Using just one application, they can access the necessary information from their supply chains easily, independently and transparently at any time. This significantly relieves Prewave users of the high administrative workload associated with the LkSG, while at the same time making it much easier to comply with legal requirements.
In addition, E/D/E offers its members and partners a product with great development potential through cooperation and the overarching goal of jointly developing the best solution for future requirements for the industrial B2B member – geared towards the specific needs of the respective sector. At the same time, the solution can also be used beyond the PVH – for example for ETRIS BANK’s cooperative group business.
New service module with extensive benefits
In addition to the advantages mentioned above, it is also possible for each individual member to check additional suppliers to E/D/E’s own suppliers individually and confidentially. In addition, E/D/E members benefit from exclusive terms of use and a contact person at Prewave who is available specifically to E/D/E and its partners to further develop the software solution based on individual needs.
In addition to the requirements of the LkSG, further guidelines can be integrated. In addition, the European directive on sustainability reporting, which will soon come into force, is now firmly in the focus of application, which means that the interests of E/D/E members are also taken into account in this context. Prewave’s solution goes beyond the German market and increasingly maps the legal systems of other European countries.
By working with Prewave, E/D/E offers its distributors and suppliers an AI-based solution that significantly reduces the administrative burden on the one hand and ensures compliance with the legal requirements associated with the LkSG with greater ease on the other.
