Target Corp., the second-largest discount retailer in the United States, has invested US $3.7 million in one of the start-ups, Inspectorio, a firm that focuses on helping retailers keep closer tabs on factories through inspections and data analysis by making mobile applications.
“They have a lofty purpose and ambition about bringing transparency to the supply chain and sourcing world. That aligns very well to our approach and philosophy around where we want to take our sourcing practices and making sure we are doing everything within our power to build up trust and credibility and to pass that on to consumers,” said Casey Carl, Chief Strategy and Innovation Officer, Target.
It may be mentioned that quality control in the supply chain has always been a concern for retailers who work with factories around the world. At the same time, retailers are also more motivated to monitor factories for compliance with safety and environmental standards as consumers become increasingly concerned about the conditions in which products they buy are made.
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Carlos Moncayo Castillo, Co-Founder and CEO, Inspectorio informed that the financial aid will be used to continue developing its platform and growing its team. He plans to hire about 10 more people to work at its engineering office in Vietnam.
