Prewave supports BMW Group in extending risk transparency to the full supply chain and risk commodities
Prewave is delighted to announce their renewed partnership with the BMW Group. This new
project scope will provide comprehensive coverage of suppliers and partners across 130
Prewave risk categories and 50 languages. The expansion includes additional suppliers and
modules, including commodity and Tier-N monitoring, and compliance with international supply
chain legislation, such as the German Supply Chain Act.
Today, full supply chain transparency (from first tier suppliers to the raw material) is essential for
businesses wishing to remain both competitive and compliant with supply chain due diligence
legislation such as the upcoming European CSDDD (Corporate Sustainability Due Diligence
Directive). Companies are required to understand the risks associated with their supply chain in
order to stay ahead of their competition and ensure that their operations are running smoothly.
The aim of the BMW Group is to be a supply chain technology lead, deploying Prewave’s AI-
based monitoring and supply chain mapping solution to gain full risk visibility into their global
supply chain.
BMW Group has accompanied Prewave since the very beginning, elaborating different use
cases and analytic approaches.
Since December 2021, the BMW Group has been using Prewave to monitor their supplier base.
Now, they are expanding their coverage even further. Tier-N Monitoring allows the BMW Group
to find risks not only for direct but also for indirect suppliers, gaining full risk visibility into their
supply chain. With Prewave, the BMW Group is able to identify potential supply chain risks,
such as disruptions, ESG and reputational risks, well in advance. Additionally, the BMW Group
is monitoring availability and prices of risk commodities with Prewave’s Commodity Monitoring
dashboard.
With international supply chain legislations, such as the German Supply Chain Act
(Lieferkettensorgfaltspflichtengesetz), coming into effect, the BMW Group is adding Prewave’s
compliance solution in addition to their own compliance systems. The collaboration between
Prewave and the BMW Group is an exciting opportunity to take the BMW Group’s supply chain
risk management to the next level!
