Let's face it.
Supply chains are known to hide secrets...
and secrets hurt everybody.
FRDM helps your supply chain run open and clean.
How it works
The new economy requires supply chains be efficient and effective, while protecting people, planet, and profits. FRDM offers end-to-end risk optics at all levels of your supply chain: primary inputs, products, countries, industries, and suppliers. You can stay on top of risk through our intuitive data visualizations, reports, and alerts. Its like having a predictive Bill Of Materials (BOM) for everything you buy.
Here is how it works...
INPUT YOUR SPEND DATA
FRDM builds your dashboard from a few key types of supplier data you already have.
You can even pull from your ERP system in a format that FRDM will recognize.
Once FRDM has your supplier/spend data, it generates a predictive Bill Of Material (BOM) for the products or services you purchase.
BOM's are built upon our proprietary federated database that layers three different levels of analysis:
We've built the world's first product genome database that operates as a predictive bill of materials (BOM). This database is based on the UNSPSC taxonomy. FRDM breaks down each of your purchases to its component and material inputs that go into your purchase.
We pull from international trade databases to build your product genome. Our algorithm uses this database to derive a probabilistic point of origin for raw materials and intermediary components that compose your finished products.
Our risk database is composed of dozens of different credible reports that inform severity of risk at every production point of your product genome. Every report is given a confidence weighting based on the reputability of the source and the prevalence in the reported region.
Sources range from three different groups:
ESG risk (ex. Environmental, Social, Governance, Health reports (ex United States Department of State, Trafficking in Persons Report, Global Slavery Index, others )
Governance and Accountability
(ex. Transparency International, others)
Drivers of Vulnerability
(ex. ILO: Unemployment Rate by Country, others)
Imagine how much it would cost to have government advisors, procurement consultants, ESG experts, social auditors, and data scientists all working for you day and night to find challenges in your supply chain.
Our proprietary Risk Algorithm does it all for you using a risk analysis framework highlighting supply chain inputs (material or labor inputs). Once the bill of materials is built for all your purchases, risk is measured at every tier of the supply chain, from supplier of finished good to components and raw materials.
Our methodology was vetted by a multi-stakeholder group of industry experts including the US Department of State’s Office to Monitor and Combat Human Trafficking along with experts in Applied Mathematics from Harvard and Stanford University
FRDM screens each of your suppliers and it’s related industries using machine learning crawlers that bring together the power of batch scraping capabilities with the data synthesis and subject matter expertise. FRDM provides clients with updates to previous alerts when new information is available. Risk alerts are not pushed to your dashboard without confidence of a supplier match, which is verified by thorough investigation by our analysts.
You can send individual or batch assessments to suppliers on a range of topics including modern slavery, governance, environmental, health and safety, and COVID preparedness. Each assessment is sent, managed, scored, and nested back into your supplier's profile, including any documentation the