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 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.
 
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 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.
 
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 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.&nbsp;
 
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 Analyst QuickTake:
 The adoption of AI to streamline supply chain operations is on the rise. Recently, Supply Chain Tech companies such as 
 <a href="https://sp-edge.com/updates/28562">
 o9 Solutions
 </a>
 , 
 <a href="https://sp-edge.com/updates/27573">
 RELEX Solutions
 </a>
 , and 
 <a href="https://sp-edge.com/updates/27454">
 upguard
 </a>
 also introduced AI features to their offerings to increase efficiencies in supply chain operations.
 
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<div>
 
 <a href="https://www.just-style.com/news/retraced-unveils-ai-audit-tool-for-fashion-supply-chain-transparency/">
 Press release
 </a>
 
</div>

Supply Chain Tech

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 Retraced has introduced a new Artificial Intelligence (AI) driven audit management tool, currently in its beta stage, aimed at automating the often labor-intensive and error-prone tasks involved in supply chain audits. This tool aims to improve efficiency by automating data extraction from factory audit documents.
 Importantly, the tool provides feedback in real-time, and generates actionable suggestions based on the data collected. It also offers a user-friendly interface that allows corporate social responsibility (CSR) managers to easily navigate and use the data.
 Retraced asserts that this tool can significantly reduce the time and effort spent on analyzing factory audits. The company hopes that by leveraging AI, it can enhance sustainability, social impact, and increase transparency within the industry.&nbsp;
 
</div> Analyst QuickTake: 
 The adoption of AI to streamline supply chain operations is on the rise. Recently, Supply Chain Tech companies such as <a href="https: 
//sp-edge.com/updates/28562"> o9 Solutions </a> , <a href="https: 
//sp-edge.com/updates/27573"> RELEX Solutions </a> , and <a href="https: 
//sp-edge.com/updates/27454"> upguard </a> also introduced AI features to their offerings to increase efficiencies in supply chain operations.

Retraced launches AI-driven audit management tool for apparel brands

INCUMBENTS_PRESENT

<div>
 Logility has launched a new product named Decision Command Center, designed to improve decision-making and add value throughout the whole supply chain process in businesses.
 Decision Command Center offers insights backed by data for all-round quality decision-making. Its key features consist of a unified system increasing visibility, enhancing understanding of supply chain effects, and aligning strategy and operations. These are intended to accelerate results, optimize resource usage, and generate business value.
 Logility suggests that Decision Command Center can encourage companies to make quicker, higher quality, and comprehensive decisions. It also promotes improved resource use and value generation for businesses.
 
</div> Analyst QuickTake: 
 Unlike launching this new product, Logility has been actively introducing new features to its existing Digital Supply Chain platform. Earlier this month, the company <a href="https: 
//sp-edge.com/updates/28527"> introduced </a> AI-powered dynamic inventory modeling to the platform to assist businesses in effectively handling inventory costs and convoluted inventory-related matters.

Logility launches new Decision Command Center for enhanced supply chain planning

<div>
 Descartes Systems Group, a supply chain software vendor, has bought Aerospace Software Developments (ASD), an Irish firm with expertise in custom and regulatory compliance solutions, for a total of USD 61 million.
 ASD is based in Dublin and offers its logistics service providers and shippers with customs declaration software products. The firm also provides RFID solutions enabling the air logistics community to track assets.&nbsp;
 Through the purchase of ASD, Descartes plans to boost its product range by incorporating ASD's Irish customs domain knowledge and its sophisticated multi-country customs technology platform. Additionally, combining ASD's RFID-based solutions with Descartes' CORE BLE real-time tracking platform should result in advantages for the airline community.
 
</div> Analyst QuickTake: 
 During the recent past, Descartes Systems Group has been enhancing its product offerings. Earlier, in April 2024, the company <a href="https: 
//sp-edge.com/updates/28473"> launched </a> Descartes MacroPoint FraudGuard to enhance freight security. The new solutions added to its portfolio through the acquisition would further strengthen its product portfolio.

Descartes Systems Group acquires Aerospace Software Developments for USD 61 million to strengthen customs compliance solutions

<div>
 Boll &amp; Branch, a company specializing in luxury home goods, has launched a new service called Origin Track. This platform allows customers to trace the full history of their bedding products, from their raw material origins to their final forms. This service reflects their commitment to transparency and sustainability.
 Customers can access this feature on the Boll &amp; Branch website, where they can input the unique lot number found on their product tags and get insights into the creation and journey of their products. The service provides information about the place of creation, the crafters involved, and the journey of the item from farm to home.
 By offering this service, Boll &amp; Branch aims to cultivate deeper engagement with its customers and provide them insight into the company's supply chain decisions. The ultimate goal is to give customers not just a product, but a product with a known and traceable backstory.
 The company values ethical sourcing and sustainability, offering a range of products such as bedding, bath towels, and other home textiles, all made from natural fibers that uphold high environmental and ethical standards​.
 
</div> Analyst QuickTake: 
 As companies strive to build sustainable and transparent supply networks, origin tracing has become an important feature of supply chain operations. During the recent past, companies like <a href="https: 
//sp-edge.com/updates/28375"> Circular </a> and <a href="https: 
//sp-edge.com/updates/27744"> Sojo industries </a> have been working on new solutions for organizations to help their customers trace the origins of the raw materials of products.

Boll & Branch Launches Origin Track to Trace bedding manufacturing process

<div>
 SAP, a global enterprise applications leader, announced new AI upgrades to its supply chain solutions aimed to improve the manufacturing sector's productivity, efficiency, and precision. 
 The key features of these solutions include AI-powered insights for optimizing supply chain decisions, simplified product development through natural language queries, detection of equipment anomalies via smart device sensor data, and improved field response using real-time traffic data and machine-learning models.
 According to SAP, these enhancements will result in improved supply chain labor productivity, decreased supply chain planning costs, and reductions in inventory carrying costs and stock turnover rates. Further, these solutions will enhance business agility and intelligence, boosting operational efficiency and making supply chains more resilient.
 
</div> Analyst QuickTake: 
 Earlier, in January 2024, SAP <a href="https: 
//sp-edge.com/updates/25552"> launched AI-driven </a> predictive demand planning capabilities tailored to the retail Industry. The goal was to provide businesses with an all-encompassing view of their customers and data analysis, which, in turn, can lead to informed decision-making.

SAP enhances AI capabilities in supply chain solutions to transform manufacturing sector

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 o9 Solutions has broadened its collaboration with Microsoft in order to incorporate Azure OpenAI Service into its Digital Brain platform. The main objective is to enhance enterprise supply chain planning. 
 The partnership’s goal is to take advantage of Azure OpenAI Service's capabilities and o9’s Digital Brain for the purpose of digitizing and linking "tribal knowledge" from different sources such as emails, Word documents, PowerPoint presentations, chat systems, and so on. As a result of this integration, capabilities such as content generation, summarization, image comprehension, semantic search, and language-to-code translation will be enhanced to transform data into valuable insights, thereby speeding up decision-making and planning processes. In the long run, the system is anticipated to advance its query responses and deliver more sophisticated insights, promoting more efficient work processes. 
 
</div> Analyst QuickTake: 
 o9 Solutions has been leveraging partnerships with Big Tech companies to enhance its supply chain planning offerings. In February 2024, the company <a href="https: 
//sp-edge.com/updates/26370"> broadened its partnership </a> with AWS to support digital transformation in large enterprises. The company had previously collaborated with AWS to deploy its Digital Brain platform on AWS for various client industries.

o9 Solutions expands partnership with Microsoft Azure OpenAI to optimize enterprise supply chain planning

<div>
 Global SaaS executive, Ted Krantz, has been announced as the new CEO of Interos, succeeding Jennifer Bisceglie who will now serve as the founder and executive vice-chair. Both Krantz and Bisceglie will be immediate members of the Interos board of directors.
 The leadership transition comes at a time when Interos is making strides in growth momentum, prioritizing enhanced margins, client growth, and platform innovation. With their collective leadership, Krantz and Bisceglie aim to leverage the expansion opportunities in supply chain and AI technologies.
 With over two decades of executive leadership experience in AI and ERP companies, Krantz brings significant expertise to Interos. Prior to this appointment, he served as CEO of data.ai, where he fostered recurring revenue growth and amplified AI technology use across product portfolios. His previous stints include leadership roles at Skai, C3.ai, SAP America, and Oracle.

</div> Analyst QuickTake: 
 Interos has been strengthening its team to foster growth and innovation. In July 2023, the company <a href="https: 
//www.prnewswire.com/news-releases/interos-bolsters-executive-ranks-with-addition-of-industry-shaping-leaders-across-supply-chain-product-and-cyber-301878508.html"> announced </a> the addition of Kiersten E. Todt, Adeel Najmi, and Jason Parikh to its senior executive and advisory board leadership teams. These new appointments strive to bolster Interos' mission of strengthening global supply chains.

Interos appoints Ted Krantz as CEO to accelerate growth

<div>
 Logility recently integrated dynamic inventory modeling capabilities into its Logility Digital Supply Chain platform. This cloud-based solution is designed to help businesses manage inventory costs and complex inventory-related issues effectively.
 This new feature leverages AI, ML, and automation to evaluate and update supply chain operations, aiming to achieve optimal operational performance. The solution offers a thorough investigation of inventory alongside network decisions and the capability to generate quick, reasonable solutions without requiring iterative processing.
 Logility states that this new solution provides a comprehensive view of supply chains and optimizes the network design by considering the influence of inventory flows across the supply chain. This comprehensive perspective facilitates faster and more informed decision-making, optimizing the network for a more cost-effective solution.
</div> Analyst QuickTake: 
 Logility has been actively introducing new features to its platform to strengthen supply chain management capabilities. In February 2024, it <a href="https: 
//sp-edge.com/updates/26368"> introduced </a> new GenAI capabilities to enhance its supply chain planning offerings. It enables users to obtain actionable insights through a conversational interface, streamline supply chain decision-making, and enhance information access and demand and inventory management productivity. Additionally, in January 2024, it <a href="https: 
//sp-edge.com/updates/26084"> launched </a> new features that primarily focus on enhancing visibility into vendor and supplier interactions.

Logility introduces AI-powered dynamic inventory modeling for Digital Supply Chain platform

<div>
 The Provenance Chain Network (PCN) has successfully raised USD 4 million in the first segment of its Series A equity funding round. The investors involved were not disclosed. The company will use this funding to expand its operations and advance its development projects.

 PCN is a SaaS company that focuses on supply chain transparency. It offers the Provenomics framework, a system that improves supply chain resilience by digitizing essential components like people, places, and products. This creates an in-depth product narrative through the RICE (Requirements, Incentives, Claims, and Evidence) process, offering reliable and verifiable supply chain data.

 Additionally, PCN's technology includes a permissioned distributed ledger, which provides secure and unchangeable data while maintaining respect for intellectual property and trade secrets.

</div> Analyst QuickTake: 
 Blockchain-based tracking software is gaining notable traction to build transparency into global supply chains. In March 2024, Sojo Industries <a href="https: 
//sp-edge.com/updates/27744"> launched </a> a new blockchain technology-based software solution called Sojo Shield to provide tracking and reporting services for shipping, receiving, and transport events. Also, companies like <a href="https: 
//sp-edge.com/updates/27455"> Finboot </a> and <a href="https: 
//sp-edge.com/updates/24880"> Circularise </a> have raised funding to expand their offerings in this space.

Provenance Chain Network raises USD 4 million in Series A funding to expand its operations

<div>
 SourceDay has entered a strategic partnership with Infor, a provider of business cloud software. The focus of the partnership is on the management of direct spend purchase order (PO) lifecycles.
 This collaboration aims to increase efficiencies by bridging the gap existing between ERPs and supplier networks in managing direct material POs. It plans to accomplish this through an integration of SourceDay’s platform with Infor’s manufacturing and distribution ERPs. In addition, Infor has become an official reseller of SourceDay’s platform, thereby expanding its customer base.
 Both SourceDay and Infor expect that this partnership will improve supplier engagement, data accuracy, and risk mitigation, thereby leading to enhanced business results. Both companies have a shared commitment to prioritizing the success and interests of their customers.
 
</div> Analyst QuickTake: 
 In recent years, SourceDay has been leveraging partnerships to offer new solutions to its customers. In February 2024, the company <a href="https: 
//sp-edge.com/updates/26336"> launched </a> the Sourceday EDI platform in partnership with SPS Commerce. The platform enables suppliers and manufacturers to work in their respective business environments while maintaining cross-collaboration through exchanging information about POs, ASNs, and updates.

All Updates