Retraced and Décor launch blockchain-based traceability platform
14/12/2021
The blockchain-based platform enables companies to collect information from their supply chain with regards to suppliers, working conditions, materials, certifications and environmental impacts, and to share this with relevant stakeholders.
The solution connects companies through Retraced’s cloud-based platform, and the companies say this will enable easier risk assessment, reporting and compliance management.
Peter Merkert co-founder of Retraced, said: “Regulators and governments are making tracing and risk monitoring a requirement for the industry. This has helped accelerate the need for something business-ready, usable and scalable.”
The companies ran a six-month pilot programme using supply chain partners to start digitising and automating the documentation process.
By April 2022 the traceability tool will be live, and by August 2022 Décor and Retraced’s partners will be able to access regulatory and compliance information.
Michael Cai, director of operations at Décor, which counts Nike and Converse among partners, said: “We see significant potential in Retraced and their platform. This partnership not only allows us to be more proactive and automated in our supply chain data management, but it also enables us to provide instantaneous traceability details to our brand and retail partners through a robust reporting capability. What may have taken days of searching through and consolidating documents can now be pulled in seconds.”
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