In order to ensure compliance with the Act on Corporate Due Diligence Obligations in Supply Chains (LkSG), E/D/E has been working with the service provider Prewave since 1 April 2023. The AI-based software solution from the innovative Viennese provider uses machine learning and detects risks within the supply chain. It evaluates information in excess of 100 languages, ranks more than 700,000 companies worldwide in terms of regulatory requirements and subjects them to an analysis regarding the level of compliance with sustainability requirements. This can also offer benefits for small businesses that are not yet obliged to comply with the LkSG.
Wuppertal – The partnership between E/D/E and Prewave enables both national and international members of the Wuppertal-based buying association to harness this innovative technology. Through just one application, they can easily, autonomously and transparently retrieve necessary information from their supply chains. With this in mind, Prewave users are relieved to a significant extent of the excessive administrative burden associated with the LkSG; simultaneously, compliance with the legal requirements is made much easier.
Furthermore, by working together, E/D/E offers its members and partners a product with excellent development potential and the overarching goal of jointly developing the best solution for future requirements for PVH as well – always aligned with the specific needs of the respective industry. At the same time, the solution can also be used beyond the scope of PVH – for example, for ETRIS BANK’s affiliated group business.
New service module with far-reaching advantages
In addition to the benefits mentioned above, it is possible for each member to independently check additional suppliers alongside E/D/E’s own suppliers, both individually and confidentially. In addition thereto, E/D/E members benefit from exclusive user conditions and a point of contact at Prewave, who is on hand specifically to E/D/E and its partners, and who is tasked with the ongoing development of the software solution based on individual needs.
Beyond the requirements of the LkSG, further guidelines will be integrable. Moreover, the (soon to be applicable) European directive governing sustainability reporting is now firmly in focus, whereby 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, on the one hand, enables a significant reduction in administrative workload and, on the other hand, ensures compliance with the legal requirements associated with the LkSG with greater ease.
Download as PDF: 20230727_EDE_Presseinformation_Lieferkettensorgfaltspflichtengesetz_EDE bietet einfache und schlanke Lösung_EN
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