Inspectorio Teams With OS Hub to Promote Supply Chain Transparency
Supply chain-focused software-as-a-service platform Inspectorio teamed with supply chain data provider Open Supply Hub.
The partnership is designed to promote transparency, traceability and responsible sourcing in global supply chains, with Inspectorio gaining access to Open Supply (OS) Hub’s open datasets, according to a Monday (March 31) press release.
Businesses employing Inspectorio’s artificial intelligence-driven capabilities alongside OS Hub’s transparent data will be in a stronger position to prevent risks, ensure compliance and show accountability across their supply chain operations, the release said.
“The combination of Inspectorio’s AI-driven platform and insights with OS Hub’s open data approach is a great example of how service providers can come together to accelerate positive change and foster greater transparency across industries,” OS Hub CEO and Executive Director Natalie Grillon said in the release.
Inspectorio CEO Chirag Patel said in the release that the collaboration sets “a new standard in supply chain accountability.”
“This integration underscores Inspectorio’s mission to empower brands, retailers and suppliers with holistic, actionable intelligence,” he said.
The PYMNTS Intelligence report “Data-Driven Advantage: How Grocery and Retail Merchants Can Accelerate Growth” found that there is a lack of real-time supply chain data among retailers in the grocery sector. More than 65% of grocery and retail merchants lack access to real-time supply chain data, but over 70% of these retailers said that supply chain data is critical for business decisions, underlining a major blind spot in their operations.
In addition to the main findings on revenue growth and data access, the report also explored the negative consequences reported by retailers who lack access to timely and usable data, with 99% of surveyed executives saying they suffered issues such as errors, delays and missed business opportunities.
“The lack of data readiness also impacts a retailer’s ability to innovate, expand their customer base and even manage their supply chains efficiently, leading to potential issues like excess inventory costs,” PYMNTS wrote last week.
Retailers must address organizational silos and technical limitations to become data-ready.
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