The latest platform enhancements use artificial intelligence (AI) to automate documentary verification and document chain of custody, enhancing efficiency, security, and reliability, TradeBeyond said.
Advanced AI verifies the authenticity and integrity of products, tracing their journey from raw materials to production and delivery in compliance with increasing ESG regulations and standards.
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TradeBeyond’s enhanced traceability solution leverages AI to automatically scan all documents, including orders, invoices, bills of lading, and shipping advices. It compiles the chain of custody documentation and checks critical product and shipment documents against multiple databases of blacklisted entities for potential compliance risks. The AI also identifies gaps or missing documentation, alerting businesses and suppliers for resolution before shipping.
“TradeBeyond’s customer base includes some of the world’s largest brands and retailers. For these businesses, manually reviewing thousands of documents and verifying their chain of custody is extremely inefficient,” explained TradeBeyond CEO Michael Hung. “Our latest AI-powered traceability capability eliminates this challenge.”
The organisation said the updates would help increase compliance with due diligence laws like the Uyghur Forced Labor Prevention Act and increases data accuracy, visibility, and transparency necessary for sustainable sourcing.
“This advancement in traceability demonstrates TradeBeyond’s commitment in its mission – to help retailers, brands, and suppliers achieve more efficient and responsible supply chains by empowering them to streamline their efforts from product ideation to production, and beyond,” Hung said.
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By GlobalDataIn a frank conversation with Just Style last month, TradeBeyond’s SVP of Americas Eric Linxwiler explained why leaning into technology to track supply chains to the ‘Nth’ tier is simply not enough.
