Modern software is assembled using third-party and open source components. They are glued together in complex and unique ways and integrated with original code to achieve the desired functionality. An accurate inventory of all components enables organizations to identify risk, allows for greater transparency, and enables rapid impact analysis.
CycloneDX was created for this purpose.
Strategic direction and maintenance of the specification is managed by the CycloneDX Core working group, with origins in the OWASP community.