Yanfeng announces flagship project in sustainable procurement.
“Over the past few years, our direct supply base is committed to fulfill our sustainability requirements. We want to continue to build on that and connect the whole supply chain. Working together with Prewave and its Artificial Intelligence we will identify risks along the entire supply chain.”
Gunnar Büchter, Executive Director Procurement and Strategy, Yanfeng
Vienna – 7th June 2021. Artificial Intelligence startup Prewave has announced it is collaborating with Yanfeng, a leading global automotive supplier, to bring more transparency and sustainability to the company’s global supply chain. The Vienna-based startup’s technology enables Yanfeng to proactively identify sustainability risks along its entire supply chain such as pollution, corruption or human rights violations in real-time. In addition, Yanfeng takes measures to actively work together with their suppliers and sub-suppliers in order to achieve a significant leap in supply chain transparency, particularly around critical raw materials used in the production processes. This announcement comes well in advance of upcoming supply chain due diligence regulation in Germany and the European Union, demonstrating Yanfeng’s leadership role in the area. Prewave is capable of monitoring all publicly available information such as social media, news and internet sources in more than 50 languages and for over 150 countries.
“With Yanfeng we are able to demonstrate the full extent of Prewaves sustainability monitoring capabilities and we are excited to play such a pivotal role in making Yanfeng ready for the upcoming Lieferkettengesetz (Supply Chain Law). Harald Nitschinger, CEO Prewave