STOCKHOLM, Sweden — June 25, 2024 — TrusTrace, a global SaaS company with a market-leading platform for product traceability and supply chain compliance in fashion and retail, today announced the launch of its upgraded AI-powered Forced Labor Prevention (FLP) Solution, which will help brands proactively map out supply chains, screen it for risk, and efficiently gather evidence for regulatory compliance.
“Our comprehensive FLP solution is not just a tool, but a commitment to a world where transparency and ethical practices in supply chains are non-negotiable. Ensuring that forced labor has no place in our global economy is critical, and with our solution, brands can proactively and confidently lead the way in this imperative transformation, instead of merely ensuring they have a solution for the release of detained shipments,” said Shameek Ghosh, CEO of TrusTrace. “With a proactive approach to supply chain data brands can be in the drivers’ seat not only for tackling forced labor but for multiple supply chain challenges, as well as opportunities, something that leading brands are already doing today.”
The Forced Labor Prevention solution uniquely combines the power of AI to manage large quantities of data from complex supply chains with scalable collection of primary data per purchase order, which is screened and validated for risk, ensuring brands have validated evidence at a product and shipment level.
The solution collects primary data directly from suppliers to ensure detailed and reliable information about facilities, products, and materials. The primary data collected through the TrusTrace solution is specific to the context of the traced products, contrary to solutions leveraging third party data, which can introduce large quantities of irrelevant information from various sources, creating ‘noise’ that can obscure critical insights and quickly become unmanageable. TrusTrace has traced more than two million purchase orders to date and has more than 55,000 suppliers and facilities mapped globally, demonstrating the capacity to automate the collection of primary data at very large scale.
The data is proactively screened for risk against the U.S. Customs and Border Protection (CBP) entity list, and the solution can integrate with any relevant risk screening database.
AI-Powered Chain of Custody Creation and Document Collection drives speed, accuracy and cost savings, making it quick and easy to gain supply chain visibility and stay on top of documentation for compliance. The FLP solution can classify, extract, and translate large volumes of documents in over 100 languages, facilitating the creation of a digital chain of custody, and transforming traditionally time-consuming manual processes, increasing efficiency, and reducing the likelihood of human error.
15 brands worldwide are already using TrusTrace for forced labor prevention, including Vera Bradley (NYSE: VRA), who see proactive supply chain traceability and data management as key in achieving their ESG commitments.
“At Vera Bradley, our commitment to sourcing responsibly is at the core of our business practices,” said Director of Global Sourcing Ayfer Yarcich. “Mapping our supply chain and gathering purchase order data is a critical step in this journey. By integrating TrusTrace’s upgraded FLP solution, we are not only working towards a transparent and forced labor-free supply chain but also aspiring to set a new standard in responsible and sustainable business practices. This transformative step underscores our dedication to our public ESG commitments and our vision of leading the industry towards a more ethical and sustainable future.”
The Forced Labor Prevention Solution has helped Vera Bradley achieve granular visibility into their supply chain, allowing the brand to ensure compliance with standards and regulations.
“Meeting varying data reporting requirements can be challenging for brands,” added Ghosh. “TrusTrace has created a comprehensive solution with a flexible framework that collects all relevant traceability data points, so brands can consolidate data collection to comply with multiple current and future regulations. Spending less time and resources on compliance then frees up valuable time to focus on driving new business opportunities and – ultimately – impact.”
For more information, visit www.trustrace.com.
Posted: June 25, 2024
Source: TrusTrace
