New Offering Prepares Importers for Global Supply Chain Due Diligence
NEW YORK, Jan. 14, 2025 -- Sourcemap Inc., the leading supply chain regulatory software company, introduces a new Mock Customs Detention Solution to prepare importers for rapidly evolving global supply chain regulations including forced labor, anti-corruption, tariffs and taxation. "Ever since we launched our supply chain Forced Labor Due Diligence solution in 2021, customers have asked for a diagnostic tool to quickly assess their supply chain compliance. This solution is just that: an out-of-the-box traceability assessment of the global supplier base to quickly identify compliance and reputational risks," explains Leonardo Bonanni, Sourcemap's founder and CEO.
US Customs and Border Protection has accelerated its enforcement of supply chains suspected of forced labor, seizing $1.7B of shipments in 2024, the majority of which came from Malaysia, Vietnam, Thailand and China. Companies have only 30 days to provide chain of custody traceability documents proving that their supply chains are compliant to release detained shipments. With higher US Customs budgets expected in 2025 and a new European supply chain due diligence law coming in 2027, every exporter into these major markets needs assurance that their supply chains are documented.
Unlike solutions that scrape data from public sources, Sourcemap assesses supply chain compliance by collecting verified data - including transactions - from every supplier down to raw materials. Sourcemap is the only software capable of automatically onboarding thousands of suppliers and their sub-suppliers to document and validate the entire supply chain within a matter of days. It builds on the Sourcemap Forced Labor Due Diligence solution - a TIME Magazine Invention of the Year 2022 - with AI-powered supplier onboarding, watchlist screening and document validation. Sourcemap's regulatory supply chain software was developed in partnership with regulators and features both ISO 27001 certification for security and EU-US Privacy Shield Framework certification for data privacy.
About Sourcemap: Sourcemap is the leading supply chain regulatory software, trusted by over 250 brands with more than 5.5 million suppliers mapped. Sourcemap provides automated solutions to meet all global supply chain due diligence requirements including US and EU forced labor regulations, EU deforestation-free regulation EUDR, the Corporate Sustainability Due Diligence Directive CSDDD and more. Based in New York, Chicago and Paris, Sourcemap was among Fast Company's Most Innovative Companies in 2023. www.sourcemap.com
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