BSI launches VerifEyeTM Directory to combat supplier fraud
5 November 2015
BSI launches VerifEyeTM Directory to combat supplier fraud
Tool links procurement professionals with trusted suppliers to reduce the cost of supplier audits and build trust and transparency across global supply chains
BSI, the business standards company, today launches the BSI VerifEye™ Directory to make it simple for firms to check the credentials of their suppliers and enable full supply chain visibility. The free online directory details 115,000 factories and facilities certified through onsite visits by BSI auditors across 172 countries worldwide. The online directory provides details of BSI certified clients, which will support procurement activity for businesses of all sizes, all sectors and across the globe.
Eight in ten businesses experienced at least one case of supply chain disruption last year, an increase on previous years, and three quarters of respondents do not have full visibility of their supply chains[1]. With one third of the world’s fastest growing exporters located in countries rated as high risk for human rights or environmental violations[2], the potential for reputational damage is high.
BSI VerifEye™ Directory has been created as a free resource to promote the adoption of best practice internationally, linking procurement professionals with trusted suppliers. BSI is one of the world’s leading assurance providers, and its auditors visit thousands of factories and facilities every year. BSI certified clients listed on the directory can be trusted to be compliant to international standards.
David Horlock, Asia-Pacific Managing Director, BSI commented:
“Illegal practices creating black holes of supply chain risk have been allowed to slip through the cracks for too long. The complexity of global supply chains has seen some of the world’s most valuable brands humbled by failures in their monitoring of suppliers. The BSI VerifEye™ Directory shines a spotlight on industry, acting as a beacon for best practice and reducing the cost of proving you are what you claim.”
Details on the directory will include company name, contact details and certificates. Clients will be able to pay to enrich their company profile with site photographs and third party certifications subject to validation by BSI during site audits. The enhanced ‘VerifEye™ Profile’ is based on PAS 7000 – Supply Chain Risk Management, a supply chain pre-qualification framework that supports procurement activity for businesses of all sizes, all sectors and across the globe.
BSI conducts audits at client premises, tackling the issue that many organizations are nothing more than agents or wholesalers with actual manufacturing or services often being carried out in different countries. With many existing supplier directories failing to differentiate between such direct and indirect suppliers, the complexity and risk of choosing an inappropriate supplier is high. BSI certified clients are provided with a BSI Trusted Profile weblink, encouraging the promotion of best practice and providing a simple route to showcase the credentials of their organization globally to win more business.
BSI VerifEye™ Directory can be accessed via: http://verifeyedirectory.bsigroup.com
