RTRS: Ensuring Sustainability in Soy Production through IoT
Technology Category
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Life Sciences
Use Cases
- Inventory Management
- Supply Chain Visibility
About The Customer
The customers of the RTRS Trading Platform are the stakeholders in the soy value chain. These include soy producers, buyers of RTRS Certified Material, and market stakeholders. The platform is designed to facilitate their participation in the market of RTRS Responsible Soy. It provides them with a user-friendly interface that allows them to trade RTRS Credits and register RTRS Physical Material sales. The platform also provides them with tools for central registration, monitoring and control of certified product volumes throughout the supply chain. It also facilitates transactions between certified producers and market stakeholders, checks on sustainability claims, and provides management reporting.
The Challenge
The Round Table on Responsible Soy (RTRS) is an international initiative that was established in 2006 with the aim of promoting responsible soy production. The organization is committed to ensuring the growth of responsible soy production through the commitment of the main stakeholders in the soy value chain and through a global standard for responsible production. The RTRS standard for responsible soy production includes requirements to halt conversion of areas with high conservation value, to promote best management practices, to ensure fair working conditions, and to respect land tenure claims. However, implementing a certification scheme for production and one for Chain of Custody posed a significant challenge.
The Solution
To address this challenge, RTRS introduced the RTRS Trading Platform. This platform facilitates producers and buyers of RTRS Certified Material. It is a technological platform that allows RTRS Credits to be traded and RTRS Physical Material sales to be registered. The platform is designed to be user-friendly, enabling stakeholders to participate in the market of RTRS Responsible Soy with just a few clicks, while ensuring transparency and traceability. The RTRS platform has several functionalities including central registration, monitoring and control of certified product volumes throughout the supply chain, facilitating transactions between certified producers and market stakeholders, checks on sustainability claims, and management reporting.
Operational Impact
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