Retraced has launched a new AI-powered audit management tool. The tool, which is currently in the beta phase, uses AI to automate supply chain audit tasks that generally involve labor-intensive work, errors, and inefficiencies.

The tool automates the extraction of data points from factory audit documents, provides real-time feedback, generates suitable suggestions for actions based on the data, and offers an intuitive interface for corporate social responsibility (CSR) managers to navigate and act upon the data.

The company claims that the new tool can drastically reduce the time and effort necessary to analyze factory audits. By employing AI, Retraced hopes to promote sustainability, positive social impact, and improve transparency. 

Analyst QuickTake: The adoption of AI to streamline supply chain operations is on the rise. Recently, Supply Chain Tech companies such as o9 Solutions , RELEX Solutions , and upguard also introduced AI features to their offerings to increase efficiencies in supply chain operations.