TEDD & Prewave are coming together to support businesses, focusing on supply chain risk mitigation and supply chain monitoring to achieve resilience and better supply chain transparency, through predictive supply chain risk intelligence backed by expert and credible Due Diligence consultancy.
The joint expertise of both the organizations will help global organizations gain better control over their supplier monitoring for purchasing, supply chain management and propagate their sustainability measures throughout their entire supplier base for a better future.
Some of the key features of Prewave’s sophisticated value chain platform solution consist of detected/predicted risk monitoring/evaluation, efficient solution using a funnel/filter methodology to identify relevant core risks, AI solution tapping into digital news media, online media and social media channels, risk identification along the whole value/supply chain, transparency and supply chain mapping functionality (multi-tier), and fast and easy implementation methodology.
Growing global expectations from consumers and stakeholders, the investor community, & international legislation compliance on mandatory human rights, environmental and governance-related due diligence will have a positive impact on responsible businesses. This coupled with Tier N transparency, supply chain mapping, and data intelligence will support a level playing field for setting new standards for responsible business conduct and compliance.
TEDD’s supply chain due diligence expertise and Prewave’s predictive supply chain technology will contribute effectively towards identifying, assessing, mitigating supply chain risks and developing effective strategies to prevent them from occurring in the first place. The intelligent platform and services offered will allow for scalable supply chain risk assessments enabling companies to reduce their meet mandatory disclosure requirements and supply chain compliance.
Message from Christian Ewert, Global Relations & Innovation Director – TEDD
“Businesses rely on real-time and accurate data to determine potential risks in their global value chains. This access to data enables businesses to focus on potential high risks and to take the appropriate action for remedy or ideally preventive action. Our clients will tremendously benefit from the partnership with Prewave as it very well complements the current TEDD service portfolio said Christian Ewert, TEDD Director at VECTRA International. In a data driven business world, this way we are able to offer effective and efficient risk identification and mitigation.”
Message from Harald Nitschinger, Co-Founder and CEO – Prewave.
“We are excited to team up with TEDD to offer improved consultancy services to our clients. TEDD are recognized experts in the due diligence space and we are looking forward to the synergetic results our cooperation will produce.”
Trusted Experts on Due Diligence (TEDD) is an initiative launched by VECTRA International, an independent cooperative of experts in over 24 countries founded in 2005. It is a one-stop solution for organizations seeking to implement holistic Due Diligence processes in alignment with their goals. Additional information about TEDD can be found at tedd-intl.com.
Founded in 2017 as TU Wien “Spin-off” based on PhD Research from 2012-2017, Prewave’s ultimate goal is to create more sustainable supply chains. Since the beginning, back when Prewave was a mere idea emerging at TU Vienna University of Technology, the motivation was to make the world a better place.
Prewave are now the pioneers of the new technology – AI Risk and Sustainability Monitoring. They strongly believe that this is a new era for supply chain management. They are leading the movement towards a better, more sustainable planet. Prewave is poised to become industry experts in transparency, resilience, and sustainability in supply chains having covered more than 250.000 suppliers to date.