Why Traceability matters
Traceability + big data
your competitive advantage.
By applying traceability you will save new material production costs, recover materials and achieve circularity.
New circular business models means new markets and consumers. Generating new revenue streams.
Traceability allows you to obtain relevant information to improve your business in ways you never imagined before.
All information and data is encrypted with blockchain technology, offering your company reliable and safe information.
- A blockchain is a database that stores information in “blocks” which are then chained together to each other to form a chronological single-source-of-truth for the data. Imagine the information collected in blocks and that are stacked, one on top of each other, without further structuring of the data.
- Blockchain is a distributed database which means that the digital assets in one of the copies of the database (called a “node”) are automatically distributed to all the other “nodes”. Because they are distributed, instead of copied or transferred, it creates an immutable record of an asset.
- The asset is decentralized, allowing full real-time access and transparency for key stakeholders.
- A ledger of changes keeps track of the modifications made in the blocks of information and, also, notifies the other “nodes”. For example, modifying past information leads to an inconsistency with the following blocks, and this inconsistency is extremely easy and quick to detect, which creates trust in the asset. Thus, fraud through modifying a past record becomes impossible because it is visible to all.
- The veracity of the information obtained is much more reliable, incorruptible.
- You can detect errors throughout your processes and also be more efficient throughout your supply chain.
- The trust blockchain offers turns into efficiency and excellence for your business.
Traceability refers to the set of procedures whose purpose is to register and identify a product from its origin to its final destination. Traceability allows you to know where and in what conditions the product is in the supply chain. Traceability also helps your business know the components of the product, their origin, the treatments they’ve undergone or the distribution process that has been followed.
Why do you need it in logistics?
Running a traceability system has numerous benefits for companies, consumers and authorities. Setting up a traceability system implies establishing a direct correspondence between the physical flow of goods and the flow of information associated with it.
Advantages of traceability systems
- Your business: it helps you identify critical points along the supply chain to solve incidents and gain productivity. In this way, you can reduce problems related to mishandling or contamination of goods, increasing the quality of the service you offer.
- For your consumers: it improves confidence in the purchase of products and services. By harvesting relevant information on your products you can guarantee the quality of your processes to your customers, either while manufacturing your product or by recovering it using TraceSurfer.
- The authorities: traceability systems are becoming more mandatory and are beginning to be regulated in demanding and expanding markets.