HONG KONG — July 9, 2024 – TradeBeyond, retail’s leading provider of supply chain solutions, has announced its latest AI-powered innovation, its PO Line Risk Rating. This cutting-edge toolset revolutionizes quality management and risk assessment by leveraging artificial intelligence to analyze thousands of historical data points, providing businesses with unparalleled accuracy and efficiency in managing their supply chain’s quality risks.
Part of TradeBeyond’s Pivot88 platform, its PO Line Risk Rating functionality uses advanced machine learning algorithms to continuously improve risk assessments for quality failures. By employing predictive analytics to evaluate multiple risk factors such as product type, materials used, country of origin and many others, the system assigns a percentage risk score to each purchase order line, indicating the likelihood of quality issues or delays. This allows businesses to proactively identify and address high-risk PO lines.
"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," said TradeBeyond CEO Michael Hung. "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."
This first-to-market functionality provides critical insights and reporting on the most significant risk factors affecting each PO line. Risk ratings are displayed as part of users’ existing workflows, enabling better planning and prioritization of inspections and audits. Customizable risk thresholds allow quality managers to set their own parameters for risk levels, ensuring that resources are allocated effectively and strategically.
These latest enhancements follow TradeBeyond's recent introduction of its AI-powered supply chain traceability tools, which have already set a new standard for visibility and compliance in retail. "This launch highlights our unwavering commitment to driving innovation in supply chain management," said Hung. "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.” For more information on TradeBeyond's AI-powered PO Line Risk Rating, visit https://www.tradebeyond.com/ai-risk.
About TradeBeyond
Retail's leading extended supply chain management solutions provider, TradeBeyond helps brands and retailers streamline product development and sourcing all the way through order,
production, and delivery. Through innovative sourcing management, extended product lifecycle management (PLM), and production and order management solutions, TradeBeyond empowers more efficient, responsible supply chains for many of the world’s largest retailers. TradeBeyond is also the provider of Pivot88, retail’s most trusted quality, compliance, and traceability platform. For more information, visit tradebeyond.com.
https://tradebeyond.com/
