The electrical and electronics industry and its supply chain use material declarations to track and declare specific information about the material composition of its products. To harmonize requirements across the supply chain and to improve economic efficiencies, IEC 62474 provides an International Standard for the exchange of material composition data and provide requirements for material declarations. This International Standard benefits the electrotechnical industry by establishing requirements for reporting of substances and materials, standardizing protocols, and facilitating transfer and processing of data.