2024 Retail Sourcing Report Series
Issue #3

Download Our Retail Sourcing Report: Supply Chain Traceability Guide

Traceability has emerged as a cornerstone of sustainability, compliance, and consumer trust in retail supply chains. The latest installment of our Retail Sourcing Report series, our Supply Chain Traceability Guide offers a comprehensive analysis of the current traceability landscape, shedding light on proven practices and innovations in the space. It’s packed with valuable insights to guide sourcing managers, compliance managers, and executives in achieving deeper supply chain understanding, visibility, and compliance.

Key Takeaways from the Report:

• Gaps in Supply Chain Visibility: Despite increasing attention to traceability, 43% of executives lack visibility into their Tier 1 suppliers, exposing significant risks and blind spots. 
• Innovation Driven by AI: Traceability solutions driven by AI and blockchain have enabled manufacturers to achieve a 20% boost in efficiency while saving approximately $1 billion in recall costs over the past five years, and much more is coming. 
• Consumer Demand for Transparency: 66% of consumers consider transparency when making purchasing decisions, placing immense pressure on brands to provide complete, verified supply chain information. 
• Industry Models for Traceability: Mature traceability frameworks in food, pharmaceuticals, automotive, and aerospace industries can serve as models for retail, particularly in fashion, which still has room to improve. 
• Legislative Drivers: 79% of organizations with high supply chain maturity have already implemented traceability solutions, partially in response to global regulations like the European Digital Product Passport and the Uyghur Forced Labor Prevention Act. 

Equip your businesses with the insights needed to strengthen traceability, foster accountability, and meet evolving consumer and regulatory demands.