Published by Sue Johns-Chapman
Published Date 27.09.2024 
EiQ empowers businesses to master responsible sourcing through data-driven insights
Human rights risks and environmental impacts are continually threatening supply chain integrity and ethical sourcing. Businesses with global supply chains struggle to mitigate critical risks such as forced labour and child labour, as supplier visibility and data management create challenges for effective risk management. This was a driving force behind LRQA creating EiQ, an innovative supply chain intelligence solution and now shorlisted nominee for the UK Business Tech Awards – Tech for Good category.
EiQ is a data-driven platform used by brands and retailers to enhance environmental, social, and governance (ESG) due diligence and assurance. Combined with LRQA’s extensive supply chain advisory expertise, the solution helps brands, retailers, investors, and suppliers navigate regulatory requirements and transform their supply chain sourcing.
Actionable insights from an unrivalled dataset
EiQ uses a robust dataset derived from more than 25,000 audits per year from sites across the globe, combined with trusted civil society sources and predictive analytics to allow businesses to monitor and understand ESG risk trends. With increased knowledge and granular insights, organisations can proactively manage and understand their risks. EiQ generates ESG risk scores for sourcing countries, commodities and suppliers and uses machine learning to scan suppliers for potential ESG violations uncovered in media reports or sanction lists.
Through EiQ’s segmentation capabilities, businesses can understand where in their supplier base the highest risk is present, enabling them to steer away from a‘one-size-fits-all’ approach and instead allocate remediation resources more effectively.
EiQ optimises ESG reporting and benchmarking through a centralised platform that integrates data from various sources into a unified system. Organisations can report their ESG data using dynamic visualisations of key metrics tailored to their reporting requirements.
The platform’s extensive dataset allows for benchmarking against industry peers and monitoring risks and trends in near real-time. Companies can compare their supply chain data against the wider global dataset for metrics such as transparency rates, average monthly wages, highest weekly working hours, and more.
Helping leading companies to source responsibly
EiQ is being adopted by an increasing number of brands and retailers across the world to improve their risk management, strengthen supply chain integrity, and drive positive impact. Its users include some of the world’s largest brands, who rely on the analytical capabilities of EiQ to make informed decisions on how to address supply chain risk.
Its achievements and capabilities have earned EiQ a shortlist spot for the UK Business Tech for Good Awards, and we at LRQA are honoured for this achievement and recognition.
“Technology for good embodies our purpose behind EiQ. We continue to work every day to help businesses create more sustainable supply chains and drive positive impact for communities and the planet. EiQ’s shortlist nomination for UK Business Tech for Good reminds us why we continue to put our efforts into this solution and working toward a greater purpose of mitigating human rights violations and negative environmental impacts through data and analytics.” – Ding Dingxiaozi, Senior Director, Analytics at LRQA
About LRQA
LRQA is the leading global assurance partner, bringing together decades of unrivalled expertise in assessment, advisory, inspection and cybersecurity services. Our solutions-based partnerships are supported by data-driven insights that help our clients solve their biggest business challenges.
Operating in more than 150 countries with a team of more than 5,000 people, LRQA’s award-winning compliance, supply chain, cybersecurity and ESG specialists help more than 61,000 clients across almost every sector to anticipate, mitigate and manage risk wherever they operate.
In everything we do, we are committed to shaping a better future for our people, our clients, our communities and our planet.
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