What is Supply Chain Transparency?
Supply Chain Transparency refers to the extent to which a company discloses information regarding the practices, partners, policies, and origins within its supply chain. This concept is fundamental to building trust with consumers, investors, and other stakeholders by allowing them to see the ethical and environmental impacts of the supply chain operations.
For supply chain traceability companies, achieving transparency means providing accessible, accurate, and timely information about the source, manufacturing conditions, and journey of products. This includes details on labour practices, environmental management, and corporate governance.
Related terms
Accountability
Accountability ensures that companies can verify the integrity of their supply chains, uphold compliance with environmental and social standards, and respond to any discrepancies or issues with honesty and corrective action.
Sustainability
Sustainability in the context of supply chain management refers to the development and implementation of environmentally responsible and socially equitable business practices throughout the supply chain. It aims at meeting the needs of the present without compromising the ability of future generations to meet their own needs.
Proof of Authority
Proof of Authority (PoA) is a consensus mechanism used in secure digital ledger networks where transactions and block creation are validated by approved accounts, known as validators.