PRINCETON, N.J.--(BUSINESS WIRE)--Lythouse, a leader in ESG data management solutions, introduces an innovative approach to simplifying the management of supply chain emissions, particularly focusing on the most challenging aspect: Scope 3, Category 1 emissions.
Scope 3, Category 1 emissions from purchased goods and services are among the most challenging in carbon reporting, requiring extensive data management, intricate calculations, and close supplier collaboration. Enterprises often manage millions of purchase records across thousands of suppliers, demanding robust data ingestion, classification, and automation.
Detailed calculations beyond traditional tools are needed, using spend, averages, and supplier-specific data. The complexity is heightened by overlapping categories like 3.1, 3.2, and 3.4. For supply chain-intensive industries, this category often accounts for over 50% of total emissions, making accurate tracking and reduction crucial for sustainability goals and compliance, yet it's a persistent challenge for businesses.
Manish Kumar, Assistant Vice President of Product Management at Lythouse, said, “Our expertise in supply chain is a result of more than 25 years of experience with Zycus source to pay products. We are extending this expertise to create Lythouse – Green Supplier Network and help our clients simplify their supply chain emission computations and management.”
Lythouse’s solution streamlines the management of supply chain emissions with advanced data ingestion and AI-powered classification, automated emission computation using over 60,000 emission factors, and seamless supplier collaboration. Lythouse ESG data exchange has pre-seeded carbon intensity information more than 5K suppliers. These innovations enable businesses to achieve accurate and comprehensive emissions reporting, facilitating greater participation and data sharing among suppliers.
Committed to sustainability, Lythouse provides the tools necessary for businesses to meet their sustainability goals efficiently. This approach to managing Scope 3, Category 1 emissions is just one example of how Lythouse is leading the way in ESG data management, helping businesses drive meaningful change in their industries.
For more information, visit www.lythouse.com
