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
Timber Traceability
Timber Traceability refers to the ability to track the origin and movement of timber and timber products through all stages of the supply chain, from the forest to the final consumer. This process involves documenting each step of the journey to ensure the legality and sustainability of the timber sourced.
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.
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.