Supply chains are becoming increasingly complex as businesses strive to get their products to consumers as quickly and cheaply as possible. This complexity can make it difficult to keep track of inventory as well as ensure goods are manufactured properly and reach their intended customers.
This is where smart tracking solutions come in. These innovative tools and softwares help businesses keep tabs on their goods and distribution, so they can make the most out of their resources.
How Do Supply Chain Tracking Systems Work
Smart tracking solutions make use of Unique Identity Codes and sensors to track items as they move through the supply chain. Each product will be labelled with a unique ID. Distributors and retailers will then have to scan and verify the identification codes to ensure that they receive the original goods for sales.
Meanwhile, consumers can scan and authenticate the products to ensure that their own purchases are genuine. All the data of products and the locations of the scans are captured during the verification process.
For counterfeiters, their failed verification attempts will be captured and traced back to the locations where they happened, exposing them and making it easier for companies to track the source of fake products. This is especially important for industries that are commonly plagued by counterfeit goods, such as the Fast Moving Consumer Goods (FMCG), jewellery, and electronic goods industries.
Benefits Of Using A Smart Tracking System For Your Business
- Clearer supply chain visibility: A smart tracking system can help provide better visibility into businesses’ supply chains, ensuring that everyone involved is aware of what is happening at all times. With this visibility, businesses will be able to identify and troubleshoot issues before they cause potential problems down the road.
- Develop agile and flexible business strategies: By understanding where the products are at every step of the process, companies can identify areas where they can make more improvements. Businesses can also react more quickly to disruptions in the supply chain. This is especially important in today’s interconnected world where a local or regional disruption can potentially affect the entire global supply chain. By quickly adapting to changes in the market, businesses can respond to customers’ needs quickly and minimise the impact on their sales.
- Important product insights: With so many moving parts in complex supply chains, it can be difficult to keep track of everything. By making use of smart tracking systems, businesses can receive real-time data about their top-selling products, locations where they are sold, distributor profiles, and alerts on fake products sold outside of the distribution channel. This allows them to make informed decisions, which ultimately helps them to improve customer service and boost sales.
Get Started With A Smart Tracking System For Your Business Now
Businesses are always looking for ways to reduce costs and improve efficiency. A good tracking system will help companies keep better tabs on their inventory, expenses, and sales data.
Nabcore is a brand protection and tracking specialist that helps companies prevent counterfeiting. As a solutions provider, we have a deep understanding on the multi-faceted counterfeiting and grey marketing issues plaguing the Asian region. This is why we combine both hardware and software technologies supported by bank-graded security to create smart tracking softwares. This can greatly improve manufacturers’ supply chain visibility and prevent loss of revenue. Contact us to find out how we can value-add to your business today!
