The fashion industry faces increased scrutiny over forced labor and supply chain traceability. Border detentions for apparel, footwear, and textiles surged 33.4% from 2023 to 2024. Despite the importance of traceability, many companies lack adequate systems. A survey showed a gap between intention and action, with only 29% fully committed to traceability. Reputation risk is a major concern, as companies fear public backlash for association with forced labor. Traceability offers a competitive advantage, but barriers like cost hinder implementation. Only 16% actively invest in innovations, leaving brands vulnerable without proper traceability.

Read more at Yahoo Finance: What’s Your Traceability Readiness Level?