CommonShare stands out in the industry with its unique approach to fostering resilient, sustainable, and transparent supply chains. By joining forces, Bureau Veritas enhances its global footprint within the retail and consumer goods sectors, while CommonShare’s expertise in origin mapping provides a vital new tool to bolster Bureau Veritas' extensive product offerings.
Through this collaboration, Bureau Veritas clients will gain access to an integrated Software-as-a-Service (SaaS) traceability solution, complementing existing Bureau Veritas services, including:
Factory Audits: Comprehensive assessments of production capabilities against Bureau Veritas' Material Traceability Facility Assessment methodology, complete with corrective action plans for underperforming facilities.
Production Verification: Unannounced audits of manufacturing sites during production cycles to ensure material quantities and records align with data reported through CommonShare.
Chain of Custody Verification: Thorough evaluation of all documentation supporting chain of custody and material claims.
This partnership empowers clients to confidently address their compliance and voluntary traceability needs while ensuring effective supply chain mapping.
Rajan Kamalanathan, Vice President of Bureau Veritas Consumer Products Services, commented on the collaboration: “We are delighted to incorporate CommonShare into our suite of tools designed to tackle our clients’ traceability challenges. In today’s landscape, plausible deniability is no longer sufficient. Companies require immediate visibility across their supply chains, and CommonShare equips them with the necessary protocols to achieve this.”
Kamalanathan further emphasized the importance of a comprehensive view of supply chains: “Our joint solution facilitates compliance with current and future regulations concerning forced labor, deforestation, and sustainability, all within a single platform. This decentralized approach, paired with Bureau Veritas' supply chain verification expertise, offers an unparalleled solution for efficient monitoring and optimization.”
Martin Smith, Founder and CEO of CommonShare, echoed these sentiments: “Mainstreaming sustainable procurement hinges on creating interoperable solutions that cater to both companies and their value chains. Our partnership melds Bureau Veritas' trusted authority in verification with the most collaborative compliance tool available. This integrated approach not only prepares companies for existing regulations but also equips them to meet any future traceability challenges, enabling them to achieve decarbonization targets and overall sustainability goals more swiftly.”