PTC announced the availability of its PTC Materials Compliance Solution for conflict minerals as a managed service. According to the company, it enables manufacturers to comply with regulations from the U.S. Securities and Exchange Commission (SEC) governing the identification and reporting of conflict minerals within their products and across their supply chains. With the first SEC filing deadline just six months away, the new rapid deployment option enables companies to quickly implement a systematic response to this compliance challenge, the company says.
Using the new solution, organizations can systematically assess and report on the status of conflict minerals within their products and across their supply chain. They also can automate the collection of supply chain data and reasonable country of origin inquiries (RCOI), generate internal risk assessment reports, and collect key information needed for the reports required by both the SEC and customers. By delivering it as a managed service, PTC installs, operates, and maintains all software and related infrastructure necessary to support the solution.
"The clock is ticking, and it is no small task to collect and validate supplier disclosures, assess supplier and product compliance status, and generate conflict minerals reports to meet SEC, auditor, and customer requirements," said Howard Heppelmann, general manager, Supply Chain Management Segment, PTC. "Our technology solution has been proven to deliver a comprehensive and systematic approach to efficiently enable conflict minerals compliance by industry leaders like Motorola, and now we're making it more flexible to procure and deploy."
For more information, visit PTC.
Sources: Press materials received from the company and additional information gleaned from the company's website.