Solutions for Retail & Consumer Products
The pace of the retail fashion & luxury industry is rapidly accelerating with the ever-changing demands of consumers. Blockchain technology addresses long-standing industry challenges by improving data management tools, enhancing supply chain operations, and reducing the risk of counterfeit in grey markets.
Consumer expectations have changed for the good
The demand for ethically-sourced and sustainable products is increasing, while enterprises are realizing both sustainability and profitability are possible.
Slow-moving inventory means lower margin
Inefficient inventory management in supply chains results in significant discounting and clearance sales, typically through online discount stores or outlets. If inventory is at the right place at the right time it can be sold for full price. Enterprises are increasingly opting for unified, digitized supply chain networks to quickly replenish and easily rotate stock.
Limited provenance kills consumer confidence
Most consumers have little or no idea where a product was actually sourced, often for good reason. Consumers aware of questionable overseas labor, lack of environmental regulations and low-quality materials in products often opt for more sustainable, ethically-sourced products–especially when there is proof via provenance.
Product authenticity is challenging to prove
Global brands spends billions combating counterfeits goods, yet most methods can be replicated or copied with great accuracy. This results in a cat and mouse chase. Some counterfeit high fashion pieces are on the grey market just days after their appearance in fashion shows, before the real product is even at market or manufactured. Many luxury watch replicas even fool the experts.
Unify your supply chain with Blockchain and delivery products with confidence
When existing supply chains integrate with blockchain, all stakeholders work off the same system reducing redundancy and errors while increasing efficiency.
Source-to-sale product provenance
Give consumers a customized look into a product’s supply chain to prove it is ethically-sourced, sustainable and meets regulatory labeling requirements.
Guarantee product authenticity
Provide consumers a further layer of confidence in their products by creating unique digital asset tagging that is fundamentally and mathematically unable to be copied, duplicated, or changed once created.
Track every step in the supply chain and provide an unprecedented level of transparency while also eliminating invoice match failures and reconciliation via smart contracts.
“We see our partnership with Chainparency unfolding as a potential game changer to uplift millions of underprivileged and disadvantaged Coconut Farmers and their families, from below poverty level to above 5 USD a day within five to seven years.”
Coco Veda, Sustainable Coconut Products
Introduce trust and visibility to your supply chain with GoTrace
GoTrace is an enterprise-ready track and trace platform and turnkey solution.
End-to-end track & trace capability
End-to-end mobile (iOS & Android) load/asset scanning with GPS, timestamp and hashed data recorded on the blockchain for traceability and auditability.
Prove the source of raw materials
End-to-end mobile (iOS & Android) load/asset scanning to prove that raw materials were not “harvested” via unsustainable or immoral practices or from exploited workers.
Share immutable data with those who need it
Intuitive dashboard, timely alerts, and reporting ensure unparalleled transparency & assurance as well as ability to grant access to other stakeholders as needed.
“Blockchain technology allows everyone to keep an eye on what is going on within a system, without giving any single person control over the information. There are numerous business applications for this technology, particularly in the retail and CPG sectors, and the potential impact is huge.”
Retail and Consumer Packaged Goods Industries Report, 2018
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