*Serai’s new solution helps businesses build supply chain visibility and track ESG commitments
**Solution being piloted by industry leaders to prove cotton and raw material origins
HONG KONG SAR – 26 January 2021 – Serai, a network-based digital B2B platform by HSBC, has launched a traceability solution that allows 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. 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,” says Vivek Ramachandran, Chief Executive Officer, Serai.
Businesses only need to integrate information sources once. 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 combines multiple data sources into a single view making it easy for businesses and their supply chain partners to have an overview of 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,” says 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 practises will help them build a more resilient, sustainable and compliant supply chain.”
Serai is the digital B2B platform by HSBC helping apparel businesses build the advantage of trust through relationships and facilitating supply chain transparency.
Members can develop new relationships, showcase strengths and offerings, grow their digital presence and exchange complex supply chain information to achieve their transparency goals. It’s all about simplifying global trade.
Serai is an essential evolving resource that gives businesses control and ownership over their data and digital assets. It’s all about helping members overcome the challenges of global trade — and making it easier for everyone.