Welspun India has released Wel-Trak 2.0, an upgrade to the company's Wel-Trak end-to-end traceability technology, which was first introduced in 2018. The upgraded platform is intended to help the stakeholders in the supply chain, from retailers to farmers and manufacturers to suppliers, traders, certifying bodies, and end consumers, in tracking raw materials back to their origin.
Welspun has become one of the first home textile manufacturers to use a Blockchain and AI-based traceability platform on such a large scale, with plans to capture all of its product lines, as well as important sustainability-related data points, as a result of this development. These include ESG metrics such as fair pay, power consumption, water usage, and gender equality among others.
As the world moves closer to distinguishing between fast-fashion and sustainable fashion, the need for a more transparent, tamper-proof, and collaborative supply chain is more important than ever. To address this issue, Welspun is implementing innovative cloud-based traceability technology across all of its manufacturing units, in accordance with the UN's Social Development Goals (SDGs).
Developed by InfiniChains, a San Francisco-based software startup, the unified data platform of Wel-Trak 2.0 is hosted on the cloud and offers 99.9% availability. Welspun plans to relocate all product categories and fibers to the tech-based platform, in order to optimize the fragmented global home textile value chain.
Dipali Goenka, CEO and Jt MD, Welspun India Limited, said that transparency and accountability are key factors in building the customer's trust. This is precisely what they aim to accomplish through their upgraded multi-level traceability solution Wel-Trak 2.0, which is enabled by blockchain, AI, and cloud technologies. Blockchain technology is excellent for developing a tamper-proof, immutable system that is immune to data manipulation and fraudulent behavior by members along the textile value chain. Wel-Trak 2.0 aims to demonstrate its dedication to its customers by ensuring that all of its operations are in line with its ESG objectives.
A report that is issued every week covers price statistics and objective analysis of the market trends on various textile value chains
A crisp report that is issued every month covers analysis of the price and market trends on various textile value chains
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide