Heavy Industries See Huge Improvements in Safety When Using Supply Chain Risk Management Technology
Avetta® (www.avetta.com) analysis of tens of thousands of suppliers in numerous industries worldwide shows companies that use the Avetta Connect™ Platform in these sectors reduce the number of safety incidents and lost workdays by 40% to 70% compared to industry averages. Industries where suppliers saw the most improvement include telecommunications, environmental/waste services, utilities, industrial services, construction, chemicals, and oil and gas.
Avetta examined hundreds of thousands of safety data points and supplier performance reports over multiple years in 20-plus industries over a 10-year period.
"Our holistic approach to supply chain risk management includes innovative technology, embedded best practices and guidance, IT systems integrations, leveraging millions of data points from our network for advanced insights, and partnering with our market-leading clients," said Arshad Matin, Avetta President and Chief Executive Officer. "Our data shows that over a ten-year period, suppliers in our network experience a 7% to 12% year-over-year decrease in incidents, which means continual business operations while more workers get home safely each night."
The research revealed that the heaviest industries showed the biggest improvements in Total Recordable Incidents Rate (TRIR), Days Away, Restricted or Transferred (DART) and Lost Workday Case Rate (LWCR) compared to the Bureau of Labor Statistics (BLS) averages.
Safety results experienced by Avetta customers using the Avetta Connect™ platform:
More information regarding recommended safety improvements and the statistics report can be found at https://www.avetta.com/global-performance-indicators.
Avetta's platform, Avetta Connect™, helps companies worldwide with supply chain risk management, enterprise and workplace safety through contractor management and prequalification with a SaaS-based system that is the most configurable in the industry. Avetta Connect™ enables clients to configure goals, create and customize analytic dashboards, identify trends, modify processes, and produce reports that will improve safety and compliance for their supply chain operations as verified by the data analysis. Avetta Connect™ also supports companies' efforts regarding sustainability and environmental, social and governance (ESG) priorities.
Clients use the data provided by Avetta Connect™ to help suppliers achieve more specialized performance indicators. This visibility removes barriers and silos between departments. Suppliers know the client's expectations and employers have the ability to select from the most qualified and safest suppliers in the country. Through this process, EHS, Risk and Procurement areas of a company work together to achieve the desired outcome.
Avetta offers a configurable SaaS-based solution that assists organizations - both large and small - in managing supply chain risk across a variety of disciplines. Avetta is building the world's most intelligent supply chain risk management network to advance clients' safety, resilience and sustainability programs. Avetta leads the world in connecting leading global organizations across industries, including telecom, construction materials, manufacturing, facilities management, high tech and energy with qualified and vetted suppliers and contractors. The company brings unmatched access and visibility to its clients' supply chain risk management process through its innovative and configurable technology coupled with highly experienced human knowledge and insight. We contribute to the advancement of our clients' sustainable growth by protecting supply chains from a wide range of potential risks through trusted contractor prequalification, safety training and monitoring, regulatory compliance, insurance/financial stability and other areas of risk. Avetta serves more than 450 enterprise companies and 100,000 suppliers across 100+ countries. Visit https://www.avetta.com/ for more information.
IDEA Showcase Startup Pitch Event & Reception