The demand for ethically-sourced and sustainable products is increasing, while enterprises are realizing both sustainability and profitability are possible.
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.
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.
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.
When existing supply chains integrate with blockchain, all stakeholders work off the same system reducing redundancy and errors while increasing efficiency.
Give consumers a customized look into a product’s supply chain to prove it is ethically-sourced, sustainable and meets regulatory labeling requirements.
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.
Coco Veda, Sustainable Coconut Products
GoTrace is an enterprise-ready track and trace platform and turnkey solution.
End-to-end mobile (iOS & Android) load/asset scanning with GPS, timestamp and hashed data recorded on the blockchain for traceability and auditability.
Intuitive dashboard, timely alerts, and reporting ensure unparalleled transparency & assurance as well as ability to grant access to other stakeholders as needed.
Retail and Consumer Packaged Goods Industries Report, 2018
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