BOSTON, May 30, 2016 /PRNewswire/ — Transparency-One, the supply chain risk management platform, today announced that SGS, the world’s leading inspection, verification, testing, and certification company, has acquired a 20% stake in the company. The company’s financing is led by Jerome Malavoy, former founder and CEO of Trace One with participation from SGS. The investment coincides with the spinoff of Transparency-One from Trace One, the global leader in private label product lifecycle management (PLM) software.
Consumer Demands for Supply Chain Transparency
In nearly every market segment, consumers and governments are demanding greater supply chain transparency. Increased demand for a larger, more diverse set of consumer products has resulted in a complex and globally dispersed supply chain. The result is a rise in issues of product safety, product fraud, and social responsibility.
Consumers are demanding more information and accountability from brands. Governments have responded with stringent regulations forcing more disclosure of product and supplier information. The combination of factors has created a «perfect storm» – resulting in the urgent need for a transformative approach to managing supply chain transparency.
Brands have Limited Visibly Below their Tier 1 Suppliers
Most brands know their immediate suppliers – but not the full supply chain down to the raw material. This opaque part of the supply chain is often where problems occur. Transparency means knowing the network of suppliers, ingredients/components, and facilities in the entire supply chain down to the raw materials. It means understanding the certification compliance, country of origin, and production environment at every stage in the process.
Transparency-One Platform for Supply Chain Visibility and Risk Management
Transparency-One maps the entire supply chain, tracks compliance, and provides analytics to proactively manage business risks. It helps companies interconnect and share meaningful product and facility data. Transparency-One leads the market with cutting edge graph database technology combined with global supplier onboarding services.
«Transparency-One’s offering is well-timed with the rapidly increasing demand for supply chain transparency» said Jerome Malavoy, founder and Executive Chairman.
«We believe the market will continue to digitize supply chain information to help diagnose and mitigate risks. The expertise that SGS can offer together with the Transparency-One platform will help ensure safe supply chains and protect our customers’ brands» said Francois Marti, EVP at SGS. «Transparency-One is a powerful platform for the industry and we are excited to collaborate with them as they build a great company.»
Chris Morrison, formerly Chief Marketing Officer of Trace One will assume the role of Chief Executive Officer of Transparency-One. «As an industry we’re just beginning the journey of how supply chain risk management can impact brands and consumers,» said Morrison. «Having the financial support and domain expertise of SGS will help us execute our vision even more rapidly and broadly.»
Trust is a Driver for Growth: SGS services combined with the Transparency-One platform will deliver a solution to monitor global supply chain transparency for the benefit of driving consumer trust.
This article was originally published by PR Newswire on May 30th 2016