TradeBeyond introduced artificial intelligence (AI)-powered supply chain traceability tools, allowing global brands and retailers to improve visibility and reduce risks in their supply chains.
"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," says TradeBeyond CEO Michael Hung. "Our latest AI-powered traceability capability eliminates this challenge."
Key takeaways:
- This latest platform enhancements use AI to automate documentary verification and document chain of custody. Advanced AI verifies the authenticity and integrity of products, tracing their journey from raw materials to production and delivery in compliance with increasing environmental, social, governance (ESG) regulations and standards.
- The 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.
“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 says.
