The complete Supply Chain act Germany compliance solution from Prewave

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PREWAVE SUPPORTS BMW GROUP WITH SUPPLY CHAIN ACT COMPLIANCE

  • BMW Group relies on the A.I.-based supply chain law solution from Prewave to holistically cover its legal due diligence requirements.
  • Prewave’s artificial intelligence analyzes vast amounts of data from online media in more than 50 languages and warns of human rights or environmental violations at suppliers.
  • Prewave’s artificial intelligence analyzes vast amounts of data from online media in more than 50 languages and warns of human rights or environmental violations at suppliers.

Supply Chain Transparency with Artificial Intelligence.

Risks in supply chains are becoming increasingly important, not least due to the recent law passed in Germany, supply chain legislation is becoming increasingly important. The artificial intelligence-based solution from the Austrian startup Prewave enables the BMW Group to identify such sustainability risks as environmental pollution, human rights violations or corruption at thousands of direct (Tier-1) and
indirect (tier-n) suppliers at an early stage.

The BMW Group has a clear commitment to leadership in the automotive industry in terms of
sustainability and thanks to the intelligent technology of the Austrian startup Prewave, supplier-related risks can now be identified  and analyzed in real time from publicly available media and social networks in more than 50 languages and from over 150 countries.

Prewave’s early warning system helps the BMW Group meet the legal requirements of the German Supply Chain Act as well as international standards in management (e.g. OECD Due Diligence Guidance, UN Global Compact, SDGs) and enables BMW to intervene in the behavior of suppliers and to
to take preventive measures. Already in 2018, the first cooperation with Prewave was initiated via the BMW Startup Garage. With February 2022 the project will now go into regular operation with over 10,000 suppliers. “Making the BMW Group’s extensive supply chain with thousands of globally distributed
suppliers is a complex challenge that we were happy to take on.

Thanks to artificial intelligence and automated language processing, it is possible to visualize supply chain issues and sustainability risks in real time. This creates transparency across the entire
supply chain and enables risk management across all tiers,” emphasizes Harald Nitschinger, CEO of Prewave. In addition to the sustainability aspect, it is also possible to issue alerts on
critical suppliers and specific risk factors, such as labor unrest, political such as labor unrest, political uncertainties, financial or legal problems, and the or the impact of the pandemic. The greater the number of business relationships and the more globally distributed the suppliers are, the more complex the monitoring of the entire supply chain. Thanks to Prewave’s solution, real-time monitoring and thus early detection and management of risks is made possible. In this way, supply bottlenecks and production stops can be prevented.

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