New York, Aug. 24, 2011 – Panjiva, a source of objective information on global trade and overseas suppliers, has formed a strategic partnership with Bureau Veritas, a provider of conformity assessment and certification services. The partnership will bring Bureau Veritas’ detailed Factory Assessments to Panjiva’s robust supplier intelligence platform, allowing participating suppliers to provide greater transparency thus making it easier for buyers to evaluate them.
This partnership adds another layer of data to Panjiva’s in-depth platform, which already incorporates multiple public and proprietary sources of independent information on the over 750,000 suppliers and manufacturers from the 190 countries constituting the U.S. supply base. By offering independently-verified Factory Assessments from Bureau Veritas in a matter of clicks, Panjiva makes it even easier for companies to do business across borders and gives buyers a higher level of confidence when selecting a supplier/partner.
Sourcing executives from many of the world’s largest buyers leverage Panjiva to identify, vet and select overseas suppliers. But until now, many suppliers could not be included in Panjiva’s search engine because it requires all companies to have third-party data in their profiles. With the Bureau Veritas integration, any supplier can now have the independent, validated information necessary to create a profile and be found by one of Panjiva’s million-plus visitors each month.
For U.S. companies, conducting on-site visits to potential suppliers is often a challenge—it is expensive, time consuming and often results in disappointment when factories are closed, addresses are incorrect or communication is near impossible. The rich, verified information available on suppliers who have enhanced their Panjiva profile with a Bureau Veritas Factory Assessment will allow for cost reductions related to site visits. A Factory Assessment provides detailed information about systems in place to help produce safe, legal and acceptable quality products. The scope of the Assessment is guided by elements which cover: Quality Management Systems, GMPs, Process Control and Product Control. And, of course, Panjiva users also have access to other key supplier insights from a variety of sources, including financial health, potential competitive conflicts and more, providing a complete snapshot of current or potential partners at any point in time.