Below is an excerpt from MetalMiner’s recently published white paper, “The Definitive Guide to Conflict Minerals Compliance for Manufacturers.” If your company could use some help figuring out whether sourced metal/metal parts contain conflict minerals, you should download this paper.
The 3Ts/G issue spans products, parts, contract manufacturers, customers and suppliers – they all require examination; so conflict minerals compliance could provide the impetus to fund additional initiatives, such as Master Data Management, among others.
MetalMiner, in conjunction with its sister site Spend Matters, has developed this conflict minerals technology framework to better understand how third party solution providers could aid in the implementation process.
Vendor Data Organization
This serves as the first stop, bringing vendors into a supplier management tool—and the A/P module (accounts payable module) doesn’t do the job when it comes to gathering the documents, capturing the signoffs, and fostering multi-tier relationships.
The good news: if your company has managed to avoid getting a proper supplier management (SM) solution for this long, options abound. From the SM modules offered by the ERP vendors (Oracle and SAP both have them—and they can be quite effective if implemented properly), to the point solutions provided by firms like Achilles, Aravo, CVM Solutions, HICX, Hiperos, GXS (RollStream), SciQuest, Zycus and some others, buying organizations remain well-covered.
MetalMiner/Spend Matters recommend going all in with an open-registration supplier management tool that covers all current and prospective suppliers. Alternatively, an 80/20 assessment of direct suppliers, as part of a supplier onboarding process, will create greater efficiencies than trying to manage the situation via Excel spreadsheets.
Remember, the vendor management tools have utility not only for data capture, but also to share information, and perhaps most importantly, regarding 3T’s/G, they can also document who reads which memo and who accepted which revisions of terms and provided which affidavit and on what date/time.
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