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FOR IMMEDIATE RELEASE
Introducing HAP Vision™ the Most Advanced Platform for Companies to Monitor Global Supply Chains
HAP, a company that validates ESG data through every step of the supply chain, announces HAP Vision™, a solution that provides on-the-ground warning signs for companies that experience serious ESG mismanagement of the overseas production process. With consumers and investors demanding greater corporate accountability, evidenced by the rise of ESG, HAP Vision helps companies identify the blind spots in their global manufacturing supply chain.
Modern supply chains can be easily disrupted by many factors. These include tariffs, trade wars, restrictions, regulations and most recently, a global pandemic. A recent KPMG survey showed that supply chain risk was the biggest threat to their company's growth over the next three years and a Gartner study showed that only 21% of supply chain leaders thought their system was highly resilient.
Supply chain risk used to mean being able to source cheaply and consistently. No more. Risk now includes that supply chain sourcing meet certain standards in sustainability and the treatment of labor that will be reflected in ESG ratings. The burgeoning ESG industry - from consultants to compliance to ratings firms - is already a multi-billion industry. ESG specific index funds hit $250 Billion in September, and this growth is expected to accelerate.
"The role of the supply chain office has never been more critical to the success of a corporation. ESG ratings firms will score companies on the safety, ethics and sustainability of their process and customers, investors and employees are watching," said Andre Raghu, CEO of HAP. "By making assurance systems more accountable through technology, companies can ensure ESG ratings do properly function as warning signs for serious mismanagement issues in supply chains."
HAP identifies and manages these risks on behalf of companies located in more than 60 countries all over the world. One of these is workplace safety. The pandemic has raised awareness of safety and health at work, specifically that workers are provided proper PPE and that employers and workers undertake simple initiatives to reduce hazards and risks in the workplace that may result in serious injury or permanent disability. Given the most recent concerns with safe workplace health environments, businesses have contacted HAP to ensure their workplaces and those of their suppliers or vendors are COVID-19 compliant.
HAP Vision uses cameras, sensors, video, and computer vision techniques along with deep learning to identify real-time occupational health and safety risks at manufacturing, raw material, and construction sites across supply chains.
Raghu and co-founder Akshay Vazirani created HAP to accurately understand what the manufacturing environment looks like, and to monitor the working conditions through a more dynamic assurance system of local resources at the point of production. HAP helps company leaders and investors to ensure that ESG ratings do what they are intended to achieve as well as offer long term performance advantages.
HAP Vision compliments decision-making with risk-based intelligence, cloud-based risk visibility and an analytics platform that maintains ethical supply chain and sustainability standards from their raw material state to finished goods. The HAP Vision platform is a transformative leap forward from the early days of "plain old onsite audit" technology.