The World Economic Forum (WEF) has long advocated for smarter, more transparent, and sustainable supply chains. In its various reports and white papers, the WEF highlights how digital transformation and operational visibility can dramatically improve procurement efficiency and reduce waste.

WEF's Focus on Supply Chain Visibility WEF identifies lack of traceability, transparency, and digital integration as key barriers to efficient procurement. In industries handling consumables, spare parts, and indirect materials, the inability to track usage, movement, and allocation leads to significant losses.

Key Findings from WEF Publications

• 15% to 30% of indirect procurement spend is often lost due to inefficiencies, overstocking, and pilferage.

• Visibility is a top strategic priority for supply chain leaders.

• Digital traceability systems are recognized as enablers of both cost reduction and sustainability.

How Traceit.Live Aligns with WEF's Vision Traceit.Live delivers real-time traceability of consumables, tools, and other indirect materials across your organization. By digitizing inventory movement and linking usage to employees or assets, Traceit.Live:

• Fulfills the visibility goals outlined by WEF

• Helps prevent overstocking, wastage, and theft

• Enables data-driven decision making at scale

Validated Through Benchmarks Traceit.Live’s savings calculator and product logic are based on WEF’s benchmark range of 15% to 30% savings. These estimates reflect what organizations could recover by improving procurement accountability and transparency.

Conclusion If your organization is grappling with untracked inventory, underutilized assets, or excess spend on indirect materials, WEF’s research confirms the need for urgent change. Traceit.Live gives you a proven pathway to meet that need.

Further Reading:

• WEF Insight Report: The Future of Advanced Manufacturing

• WEF White Paper: Building Resilience in Supply Chains

• WEF Strategic Intelligence: Digital Transformation of Logistics