Product Overview of Retraced
Retraced is a cutting-edge platform designed to enhance transparency, sustainability, and compliance in the fashion and textile industry. Founded in 2019, Retraced leverages blockchain, cloud technology, and artificial intelligence to provide a comprehensive solution for apparel companies to manage their supply chains more effectively.
Key Functionality
- Supply Chain Traceability: Retraced allows fashion brands to track their products’ lifecycle from production to retail, providing detailed insights into materials, processes, and the people involved. This ensures responsible sourcing, reduces waste, and helps comply with regulations such as the EU’s textile recycling requirements.
- AI-Powered Audit Management: The platform features an AI-driven tool that automates supply chain audit management. This tool extracts essential data points from factory audit documents, provides real-time feedback, and generates intelligent suggestions for Corrective and Prevention Action Plans (CAPA). It significantly reduces the time and effort required for audit analysis, enhancing accuracy and efficiency.
- Real-Time Collaboration and Transparency: Retraced enables real-time collaboration between brands and their suppliers, facilitating efficient communication and data collection. The platform helps in visualizing supply chains, tracing products, and validating information through AI-powered document revision. This fosters transparency and trust among stakeholders, including customers, through mechanisms like QR codes and webshop integrations.
Key Features
- Automated Data Extraction: Automatically extracts crucial data points from audit documents, including findings, actions, non-compliances, and severity ratings.
- Real-Time Feedback and Insights: Provides immediate feedback on audit documents, enabling swift review and validation of extracted data.
- Intelligent Suggestions: Generates data-driven suggestions for corrective and preventive actions based on extracted data.
- User-Friendly Interface: Offers a sleek and intuitive interface that allows CSR managers to easily navigate through audit data and take action confidently.
- Supplier Risk Auditing: Enhances visibility on supplier risk audits and provides data-driven guidance to ensure compliance with legal requirements from the EU and international laws.
- Compliance and Sustainability Reporting: Facilitates the collection, overview, and analysis of supply chain information to support sustainability and compliance reporting. This includes adhering to regulations such as the AGEC law and the Digital Product Pass.
- Order and Inventory Management: While primarily focused on supply chain transparency, Retraced also offers features like order tracking, inventory management, and shipping integration to streamline operational processes.
Benefits
- Improved Transparency: Enhances visibility across the supply chain, enabling brands to demonstrate their commitment to sustainability and responsible sourcing.
- Efficiency and Automation: Automates labor-intensive tasks such as data extraction and audit analysis, reducing time and effort.
- Compliance: Helps brands comply with regulatory requirements and industry standards.
- Sustainability: Supports sustainability strategies by providing detailed insights into social and environmental risks.
- Customer Trust: Fosters trust with customers by providing transparent information about product origins and production processes.
Retraced is a trusted partner for leading fashion and textile brands and suppliers, offering a comprehensive 360° solution to address the complex challenges of supply chain management in the industry.