Serai, a network-based digital B2B platform by HSBC, has launched a traceability solution enabling apparel businesses to track cotton and other raw materials going into their product.
Businesses can use the new solution to trace order flow throughout the supply chain, manage supply chain risks and collect data for compliance needs. Serai helps businesses map upstream suppliers and track environmental, sustainability, and governance (ESG) commitments.
“It is critical for suppliers, manufacturers, and brands to show and prove the origins of their products,” says Vivek Ramachandran, chief executive officer, Serai. “However, it can be difficult for businesses to have full visibility over their complex supply chains as much of this data is currently fragmented and managed manually. Serai makes it easy for businesses to access and unify complex supply chain information from multiple sources,” he says.
Businesses only need to integrate information sources once and Serai then enables them to share this with multiple parties over a secure platform. The solution is customisable, able to accommodate the needs of each company, Serai says.
“Serai combines multiple data sources into a single view making it easy for businesses and their supply chain partners to have an overview of the information that they may not have had access to before. Not only does this allow for a seamless flow of information, it could help them identify gaps and inefficiencies in their current processes,” according to Vivek.
“In today’s climate, it’s critical that apparel businesses take a proactive approach in tracing and being transparent about their product journey. Such practices will help them build a more resilient, sustainable and compliant supply chain.”
Serai’s ambition is to simplify global trade, with an initial focus on the apparel industry.