Partnership Pairs Proprietary Forced Labor Intelligence With AI-Powered Sub-Tier Supplier Visibility, Monitoring, and Risk Assessments to Build Ethical and Sustainable Supply Chains
Everstream Analytics, the global supply chain insights and risk analytics company, announced today that it has partnered with supply chain consultancy and social enterprise Slave-Free Alliance (SFA), part of the global non-profit Hope for Justice. This collaboration combines Everstream’s multi-tier supplier discovery and AI-powered risk monitoring and analytics with SFA’s proprietary forced labor intelligence to expose unknown risks and protect global supply chains from modern slavery and exploitation. The company becomes the global strategic partner and exclusive technology partner to SFA’s supply chain working groups. Through this alliance, Eversteam Analytics will actively contribute to enhancing capabilities and eradicating modern slavery and forced labor from global supply chains.
50 million people worldwide are living in modern slavery, meaning someone else is controlling their life and work by exploiting a vulnerability, for profit or personal gratification. It remains a serious problem in nearly every region, with over 40% occurring in upper-middle to high-income countries. Due to the opacity and complexity of today’s global supply networks, companies are increasingly vulnerable to the risk of forced labor. According to a study cited by Slave-Free Alliance, 77% of companies expect to find modern slavery somewhere in their supply chain.
Supply chain compliance laws such as the Uyghur Forced Labor Prevention Act in the U.S., The German Supply Chain Due Diligence Act, and the upcoming EU Supply Chain Law will hold manufacturers responsible for exploitation occurring anywhere in their supply chains. Companies are at risk of hefty fines for noncompliance and the loss of consumer, employee, and investor confidence and brand value, even if they weren’t aware of the problem.
"It is more important than ever for organizations to identify and eliminate exploitive practices within their supply networks," said Julie Gerdeman, CEO of Everstream Analytics. “Everstream is proud to work alongside Slave-Free Alliance and unite our missions to help companies build sustainable and ethical global supply chains.”
“This partnership will advance our ultimate goal of bringing an end to modern slavery in supply chains," said Tim Nelson, CEO of Hope for Justice and Slave-Free Alliance. “With the help of Everstream’s technology and our team of forced labor experts, we will create global strategies and provide thoughtful solutions to protect people and supply chains from the threat of modern slavery.”
The strategic partnership will give enterprises deeper visibility into their potential exposure and connect them to the right expertise to swiftly address any issues. Everstream and SFA will jointly attend the Organization for Security and Co-operation in Europe (OSCE) and other key industry events to share insights and expert guidance on modern slavery risks and mitigation strategies. Together, Everstream and Slave-Free Alliance will help organizations across the globe build ethical and compliant supply chains while helping stop modern slavery.
About Everstream Analytics
Everstream Analytics sets the global supply chain standard. Through the application of artificial intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics businesses need for a smarter, more autonomous and sustainable supply chain. Everstream’s proven solution integrates with procurement, logistics and business continuity platforms generating the complete information, sharper analysis, and accurate predictions required to turn the supply chain into a business asset. To learn more, visit https://www.everstream.ai/.
About Slave-Free Alliance
Slave-Free Alliance is wholly owned by global charity Hope for Justice and all profits are reinvested in charitable activities to help victims and survivors of human trafficking and modern slavery across the world. Slave-Free Alliance works with organizations of all sizes and complexity – from multinational companies to the smallest businesses – to help them understand and mitigate the risk of modern slavery and labor exploitation in their supply chains There are more than 120 members globally, including Aldi, AstraZeneca, Experian, Schroders, Currys and Sunbelt Rentals UK. These organizations recognize that they need to take a long-term approach to embed best practice in their operations and supply chains and to bring about lasting change. To learn more, visit https://www.slavefreealliance.org
View source version on businesswire.com: https://www.businesswire.com/news/home/20230913773451/en/
Contacts
Izzy Lugo
fama PR for Everstream Analytics
everstream@famapr.com
