Introduction
TradeBeyond’s latest artificial intelligence tool is helping target quality issues before products ever reach the end consumer.
Who are TradeBeyond’s Clients?
The company, which boasts customers like Target, Lululemon, and Gap, helps its clients with ESG compliance. Recently, it announced a new AI-powered capability called PO Line Risk Rating.
How Does PO Line Risk Rating Work?
TradeBeyond will now use predictive analytics to assign a risk score to each individual line item on a purchase order (PO) based on country of origin, type of product, materials used, and more. This score could help companies better understand the potential for quality issues or supply chain delays for certain products.
What Are the Benefits?
Once determined, a client’s workflow will show the risk ratings assigned to each product, allowing companies to proactively plan audits and inspections. The tool also allows teams to set their own risk thresholds for various considerations, ensuring customization for each business.
CEO’s Perspective
Michael Hung, TradeBeyond’s CEO, said he expects the technology will bolster brands’ ability to identify risks throughout their supply chains.
“TradeBeyond’s customers, including some of the world’s largest brands and retailers, face immense challenges in managing quality and minimizing the risk of faulty products ending up on the shelf,” Hung said in a statement. “Our AI-powered PO Line Risk Rating enhances inspection management and reduces operational costs by minimizing unnecessary inspections on low-risk PO lines. It’s crucial for helping companies improve the quality of their products over time.”
Integration with Pivot88
The new feature integrates into the company’s existing Pivot88 platform, which allows retailers and brands to get insights on a specific product throughout the supply chain. TradeBeyond acquired Pivot88 in 2023.
Further Developments
The announcement comes just a few months after TradeBeyond announced it would use AI to help customers more efficiently handle traceability concerns. In April, it expanded its capabilities to allow AI systems to scan orders, invoices, shipping paperwork, and other documents critical to the supply chain. From there, the technology can create a chain of custody that a company can verify against outside data sources to identify supply chain risks.
Compliance and Standards
Those upgrades were specifically targeted at helping companies adhere to the growing number of standards they face, particularly when importing goods into the U.S. or EU. The PO Line Risk Rating, though, could help stop quality issues before they ever come to a head in a company’s supply chain.
Commitment to Innovation
Hung said the technology shows the importance TradeBeyond places on innovation and looks to serve both its own customers and end consumers of those brands and retailers.
“We are continually investing in AI to provide our clients with the most advanced tools available to achieve unprecedented efficiency and better meet the growing demands of consumers,” he said in a statement.
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