CPM - Ecubix

Digital Insights: The Future of The Lube Industry with Track & Trace

Posted on July 10, 2024July 11, 2024 by ecubix@saurin

The Global Lubricants Market was valued at USD 142.77 Billion in 2023 and is expected to reach USD 206.69 Billion by 2032, at a CAGR of 4.30% during the forecast period 2023 – 2032.

In the lube industry, track and trace has become increasingly essential as manufacturers strive to enhance supply chain efficiency, increase transparency, and ensure compliance with regulations. It plays a significant role in channel performance management by providing real-time visibility into product movement from production through distribution channels. This allows companies to monitor inventory levels accurately, reduce losses due to theft or counterfeiting, and improve customer satisfaction rates.

Overall, integrating track and trace technology into channel performance management enables lubricant manufacturers to gain competitive advantages by reducing costs, enhancing productivity, ensuring regulatory compliance, and building trust with customers.

QR Codes: The Backbone of Modern Track & Trace Systems

Track & trace systems, often utilizing QR codes, provide unique identifiers for each product, ensuring real-time tracking and data capture. While QR codes are a popular choice, other methods like RFID tags and barcodes are also used to achieve seamless supply chain management.

Here’s How Incorporating QR Codes Contributes to Better Channel Performance Management for The Lube Industry:

QR codes have emerged as a game-changing tool for improving channel performance management across industries, including the lubricants market. Integrating QR codes into the tracking and tracing process offers numerous benefits, ranging from enhanced data accuracy to streamlined operational efficiencies.

(1) Improved Data Accuracy: QR codes enable automatic scanning and recording of relevant information at each stage of the supply chain, eliminating manual errors in inputting data. This ensures accurate and reliable records throughout the entire process.

(2) Streamlined Operations: QR codes automate many manual tasks involved in traditional tracking methods, saving time and resources while increasing efficiency. As a result, companies can manage larger volumes of products without compromising on quality control standards.

(3) Greater Transparency: QR codes provide instant access to critical information about a specific product, enabling stakeholders along the supply chain to collaborate effectively and make informed decisions quickly. Increased transparency fosters improved communication between suppliers, distributors, retailers, and consumers.

(4) Real-Time Visibility: QR codes offer continuous monitoring capabilities, allowing manufacturers and distributors to observe product movements 24/7. This enables them to respond promptly to issues arising during transport or storage, minimizing delays, and maintaining optimal inventory levels.

(5) Compliance Management: QR codes facilitate easier verification of compliance with regulatory standards and guidelines. By storing necessary documentation digitally, organizations can effortlessly present proof when needed.

Benefits of Using Track and Trace Systems for Simplified Inventory Management in The Lube Industry

Using track and trace systems brings about multiple advantages for inventory management processes. Here are some key highlights:

(1) Enhanced Visibility: By constantly tracking every item moving within your supply chain, you’re able to get a holistic view of inventory levels and spot bottlenecks immediately. This leads to quicker response times and faster resolution of problems.

(2) Improved Accuracy: Manual record keeping tends to lead to inaccuracies due to human error, whereas track and trace systems automatically eliminate most of these errors by logging everything precisely.

(3) Speedier Decision-making: Access to real-time information allows you to make decisions much faster than relying solely on outdated records. This means you can react promptly to shifting market conditions or supplier disruptions.

(4) Cost Savings: Fewer mistakes mean fewer penalties or fines, less wasted material, reduced labour costs spent on rectifying errors, etc., translating into tangible financial savings for your organization.

Regulatory Compliance: Many industries require strict adherence to safety and security protocols, which can be challenging to enforce without automated tracking mechanisms in place.Customer Satisfaction: Fast, accurate delivery ensures satisfied customers who feel confident doing business with you again.

Role of Track and Trace System in Channel Movement Process (Pl to Retailer)

Track and Trace is an essential process in the supply chain, especially when it comes to moving goods from the plant to the warehouse, then to the distributor, and finally to the retailer. It involves monitoring the movement of products from the manufacturer to the end user to ensure accuracy, efficiency, and compliance with regulations.

The process starts at the plant, where the manufacturer produces and packs the finished goods. The Track and Trace system is then implemented to record the details of the shipment, such as the location, quantity, and status of the products. This information is then relayed to the distributor, who receives the goods and may further process them, such as repackaging or labelling for specific retailers.

As the goods reach the warehouse, the Track and Trace system plays a crucial role in ensuring that the right products are received and stored correctly. This is important for inventory management, as it allows businesses to track their stock and ensure that products are not lost or misplaced.

Implementing track and trace technology provides manufacturers with real-time insights into product movement.

From packaging to distribution channels, companies can monitor inventory levels accurately, reduce losses due to theft or counterfeiting, and enhance customer satisfaction rates.

Let's Get A Free Demo To Embrace Track And Trace Technology Enables Lubricant Manufacturers To Gain A Competitive Edge.

When the goods are ready for shipment to the retailer, the distributor is responsible for the movement of the goods to the retailer’s store. The Track and Trace system helps in managing the logistics of this movement, such as coordinating transport and ensuring timely delivery.

Adopting GS1 Standards for Improved Channel Movement Communication and Transparency in Supply Chain Operations

GS1 standards promote transparency throughout the entire smart supply chain solution while maintaining privacy and confidentiality. They provide guidelines for companies wishing to adopt electronic identification systems like RFID technology, bar code systems, GPS tracking devices, radio frequency identification (RFID), serial numbers, and Electronic Product Code (EPC).

Compliance with GS1 standards allows businesses to better communicate and share data across suppliers, distributors, retailers, and consumers worldwide. They enable effective coordination of materials flow along the channel, improve automation in warehouses, facilitate faster shipping procedures, minimize errors and fraud, increase accountability, enhance quality control measures, lower transportation costs, and support environmentally friendly practices.

Track and Trace System: Specifically Focusing on Loyalty Programs for Retailers and End-users in The Lubricant Industry:

(1) Customer Loyalty Programs: An Overview

Definition: A customer loyalty program is a strategic marketing approach that recognizes and rewards loyal customers, encouraging them to continue purchasing or engaging with a brand.

Rewards: These programs offer incentives such as gifts, discounts, points, or exclusive benefits to customers. The value or frequency of rewards typically increases as customers make more purchases.

Goals: Beyond enhancing customer retention and growth, loyalty programs aim to transform regular customers into brand promoters.

Types of Programs:

Loyalty Points Programs: Customers earn points for every purchase, which they can redeem for credit, discounted services, or giveaways.

Tiered Programs: Customers progress through tiers based on their engagement levels (e.g., purchase history). Each tier offers different benefits.

(2) Track and Trace System Integration:

User-Friendly Interface: Design an interface for customers to track their progress, redeem rewards, and engage with the program.

Data-Driven Insights: Leverage data from the system to personalize rewards and optimize program effectiveness.

(3) Retailer and End-User Engagement:

Retailers: Incentives for Retailers, reward retailers for promoting the program to end-users.

Experience The Next Level of Trust And Rewards In The Lubricant Industry With Our Cutting-edge Track And Trace System.

Unlock unparalleled value and customer loyalty in the lubricant industry with our state-of-the-art Track and Trace System. Seamlessly integrate our system to offer personalized loyalty programs, rewarding your clients for every purchase and fostering long-term relationships.

Let's Get A Free Demo To Empower Your Lube Business.

Importance of Integrating Track and Trace Solutions with ERP Systems in the Including the Lubrication Industry

Integration of track and trace solutions with Enterprise Resource Planning (ERP) systems is critical for the lubricant industry. Dynamic track and trace solutions should integrate seamlessly with existing ERP systems to maximize efficiency and reduce manual intervention. Such integration provides accurate real-time updates on inventory quantities, orders processed, deliveries completed, transactions recorded, pricing changes applied, and other significant aspects required for business management.

By synergizing track and trace solutions with ERP systems, businesses benefit from greater visibility into their operations, enabling them to monitor their inventory levels closely, receive immediate alerts whenever stock falls below designated thresholds, plan production schedules efficiently, manage logistics processes effortlessly, audit transactions conveniently, update prices dynamically, generate reports quickly, and detect irregularities instantly. Additionally, businesses can leverage this integrated approach to meet industry regulatory compliances, reduce operation costs, enhance productivity, boost profitability, augment customer satisfaction, empower employees, promote environmental sustainability, and gain a competitive advantage over rivals.

Integrating Track and Trace Solutions with MIS Reports for Decision Making

To integrate track and trace solutions seamlessly into existing MIS infrastructure, organizations must establish robust APIs between different software applications and platforms. By automating this integration process, companies can minimize errors and maximize efficiency when generating customized reports for decision-makers. Some key factors to consider include selecting appropriate sensors for monitoring shipments during transit, establishing clear communication protocols among stakeholders involved in the logistics process, setting up alerts for suspicious activities or non-compliance issues, and implementing security measures to protect sensitive data stored in the system.

Use Track and Trace Systems on Web, iOS, and Android for Effective Management in the Lubricant Industry

Integrating track and trace systems onto mobile devices enables field employees to capture barcodes or QR codes remotely, streamlining inventory management tasks such as counting stock, performing inspections, and updating records even without access to WiFi or cellular networks. Furthermore, mobile apps equipped with GPS functionality facilitate real-time location tracking of assets, optimizing routes for deliveries, and reducing transit times thus enhancing service quality. Lastly, mobile apps also support remote diagnostics and maintenance capabilities, increasing uptime and reducing downtime costs associated with equipment failures.

As the digital landscape continues evolving rapidly, adopting advanced technologies like track and trace systems becomes increasingly essential for businesses seeking to improve efficiency, reduce costs, and remain competitive. Harnessing the benefits offered by these innovative tools will enable lubricant manufacturers, distributors, and retailers alike to leverage cutting-edge analytics capabilities and empower employees with real-time information necessary to drive improved performance outcomes.

Transform Your Lubricant Business with Our Integrated Track and Trace Solutions Seamlessly Connected To Your ERP and MIS Systems.

Elevate your decision-making process with real-time data, comprehensive reports, and unparalleled insights. Stay ahead of the competition by optimizing your supply chain, ensuring product authenticity, and enhancing operational efficiency.

Don't Miss Out On This Opportunity To Revolutionize Your Lube Business. Let's Contact Us Today!

Optimizing Distribution Channels for Agrochemicals To Maximize Profits

Posted on June 21, 2024July 8, 2024 by ecubix@saurin

Effective distribution channels play a pivotal role in maximizing profits for agrochemical companies. First, streamlining supply chain solution is essential. Companies should invest in robust inventory management systems, real-time tracking, and efficient transportation networks. By minimizing lead times and reducing stockouts, companies can ensure timely delivery to retailers and end-users. Optimizing warehouse locations and adopting just-in-time inventory practices can further enhance efficiency.

Furthermore, collaboration with channel partners is crucial. Agrochemical manufacturers should foster strong relationships with distributors, retailers, and wholesalers. Joint marketing efforts, co-branding initiatives, and shared data can lead to better market penetration and increased sales. Incentive structures aligned with performance metrics can motivate channel partners to promote agrochemical products actively. By leveraging these collaborative strategies, companies can create win-win scenarios that boost profitability across the entire distribution network.

The demand for agrochemical intermediates stood at 3.27 million tonnes in 2020 and is forecasted to reach 5.091 million tonnes by 2030, growing at a healthy CAGR of 4.55% until 2030. This significant growth highlights the need for effective distribution strategies to ensure timely and efficient delivery of products to meet the rising market demand.

Challenges of An Inefficient Distribution Channel

An inefficient distribution channel poses several obstacles for businesses. Firstly, maintaining stock inventory with low-performing sellers while high-demand products remain unavailable leads to missed sales opportunities. Secondly, the accumulation of expiring product returns awaiting acceptance by brand owners results in financial losses. Thirdly, the sales team’s efforts are wasted on poorly performing sellers, leading to demotivation. Fourthly, discounts and schemes from brand owners go to waste due to ineffective distribution. Lastly, outdated stock hinders a timely response to new product launches, and non-moving inventory ties up valuable capital.

Improving Visibility and Efficiency in the Agrochemicals Supply Chain

Effective supply chain management is crucial for the agrochemical industry, where transparency, efficiency, and security are paramount. Here are strategies to enhance supply chain visibility and efficiency:

1. Disclose Transparency

Build Trust with Stakeholders: Provide clear and accessible information about the sourcing, production, and distribution of agrochemical products.

Regulatory Compliance: Ensure compliance with global regulations and standards by maintaining transparent records and documentation.

2. Increase Grower Engagement

Educational Programs: Offer training and resources to growers about the benefits and proper use of agrochemicals. Organize workshops and field demonstrations to showcase the latest technologies and practices.

3. Provide Channel Visibility

Enhanced Tracking: Utilize advanced tracking systems to monitor the movement of products through the supply chain. Implement barcoding, QR codes and RFID technologies to improve product traceability.

Distributor Collaboration: Work closely with distributors to ensure they have access to up-to-date information about product availability.

4. Provide Real-Time Supply Chain Visibility

Digital Platforms: Use digital platforms to provide real-time updates on supply chain activities, from production to delivery. Enable stakeholders to access real-time data through cloud-based systems and mobile applications.

5. Improve Operational Intelligence

Data Analytics: Leverage big data analytics to gain insights into supply chain performance and identify areas for improvement.

Enhance consumer trust and ensure food safety with our advanced supply chain solutions.

Let's get a free demo and see how our technology can safeguard your food products and boost customer confidence.

Consumer Trust and Food Safety

A recent survey by Trace One found that while 91% of consumers believe it is important to know where their food comes from, only 12% wholeheartedly trust the safety of the food they consume. This significant gap highlights the need for transparency and stringent safety measures in the agrochemical and pesticide market. As consumers demand more information about food sources and safety, companies in the agrochemical sector must focus on:

Transparency: Providing clear and accessible information about the origin and safety of food products.
Safety Standards: Adhering to strict safety and quality standards to build consumer trust.
Sustainable Practices: Promoting sustainable and eco-friendly agricultural practices to meet consumer expectations and regulatory requirements.

Channel performance management is crucial in agrochemical distribution to ensure efficient and effective delivery of products to end-users. Here are key strategies to optimize channel performance management:

1. Distributor Relationship Building

Regular Communication: Maintain open lines of communication with the distribution channel by providing information about product launches, and promotional activities.

2. Channel Optimization

Channel Selection: Evaluate and select distribution channels based on factors such as reach, efficiency, and cost-effectiveness. Tailor channel selection to target specific market segments and geographic regions.

Channel Integration: Integrate multiple distribution channels, such as direct sales, and retail partnerships, to reach a wider audience. Ensure seamless coordination and collaboration between different channels to maximize sales and minimize channel conflicts.

3. Inventory Management

Demand Forecasting: Utilize historical sales data and market trends to forecast demand accurately. Adjust inventory levels accordingly to prevent stockouts or overstock situations.

Inventory Tracking: Implement robust inventory management systems to track inventory levels in real-time. Use barcode, QR code, or RFID technology for accurate and efficient track and trace across the supply chain.

Channel Performance Management Strategies Are Crucial For Agrochemical Distribution For Several Reasons:

1. Efficient Distribution Network

Effective channel management ensures the smooth and efficient flow of agrochemical products from manufacturers to end-users. By optimizing distribution channels and streamlining operations, companies can minimize bottlenecks and delays, ensuring timely delivery of products to customers.

2. Market Reach and Penetration

Well-managed distribution channels help agrochemical companies reach a broader market and penetrate new geographic regions. By selecting the right mix of distribution channels and partners, companies can extend their market reach and access previously untapped customer segments.

3. Customer Satisfaction

Channel performance management focuses on meeting customer needs and delivering value-added services. By providing efficient order processing, timely delivery, and excellent customer support, companies can enhance customer satisfaction and loyalty, leading to repeat business and positive word-of-mouth referrals.

4. Cost Optimization

Optimizing distribution channels helps reduce unnecessary costs and improve overall profitability. By minimizing inventory holding costs, transportation expenses, and distribution overheads, companies can increase margins and achieve better financial performance.

5. Brand Reputation and Trust

Effective channel management contributes to building a strong brand reputation and fostering trust among customers and stakeholders. By ensuring consistent product availability, quality, and service levels, companies can enhance their brand image and differentiate themselves from competitors.

6. Market Intelligence and Insights

Channel performance management provides valuable insights into market trends, customer preferences, and competitor activities. By closely monitoring channel performance metrics and gathering feedback from distributors and retailers, companies can make informed decisions and adapt their strategies to changing market conditions.

7. Competitive Advantage

A well-managed distribution network can serve as a competitive advantage for agrochemical companies. By offering superior distribution capabilities, innovative services, and personalized support to channel partners, companies can outperform competitors and gain a stronger foothold in the market.

8. Regulatory Compliance

Effective channel management ensures compliance with regulatory requirements and industry standards. By maintaining accurate records, adhering to safety and environmental regulations, and implementing responsible distribution practices, companies can mitigate risks and avoid costly fines or penalties.

Digitalization provides real-time visibility into supply chain processes, from production to distribution, enabling better decision-making and enhanced transparency. Digital tools optimize the allocation and utilization of resources, such as labour, equipment, and raw materials, leading to improved efficiency and cost savings.

Digital supply chain solutions help identify and mitigate risks, such as supply chain disruptions, market volatility, and environmental factors, by enabling proactive risk management strategies.

Unlock the potential of your agrochemical distribution with effective channel performance management strategies.

Let's contact us and learn how our solutions can optimize your distribution channels and drive success.

What You Need to Know About Traceability? – A Key Parameter for Channel Performance Management

Posted on June 18, 2024July 8, 2024 by ecubix@saurin

In today’s fast-paced and competitive business landscape, effective supply chain management has become a critical factor in determining a company’s success. The global market for traceability technology is projected to reach around $20.7 billion by 2027, growing at a CAGR of 14.3% during the forecast period.

Traceability – the ability to track the movement and location of products throughout the entire supply chain is a key aspect of supply chain management. Traceability is not only important for ensuring product quality and safety, but it also plays a crucial role in channel performance management (CPM). A study found that 75% of consumers are willing to switch to brands that provide more detailed product information, including traceability data.

Here, you can refer to the Traceability Format:

As the market for traceability solutions continues to grow, businesses are investing more in these technologies to ensure product safety, quality, and compliance. Channel performance management is the process of monitoring and optimizing the performance of various distribution channels to maximize overall business success. Traceability is a key parameter in this process, as it provides valuable insights into the movement and handling of products across different channels.

What is end-to-end traceability?

End-to-end traceability refers to the ability to track a product’s journey from the packaging to the final delivery to the customer. The World Health Organization (WHO) estimates that 10% of medicines in low- and middle-income countries are counterfeit, driving the demand for improved traceability systems.

By having a comprehensive view of the entire supply chain, businesses can identify bottlenecks, optimize processes, and ensure compliance with industry regulations and customer requirements.

Discover the importance of end-to-end traceability in your supply chain.

Let's get a free demo of our end to end channel performance management solutions.

Why is product traceability in manufacturing important to implement?

In a survey conducted by the International Trade Centre, 85% of companies identified traceability as a critical issue in their supply chains. Implementing product traceability in manufacturing offers several key benefits:

Quality Assurance: Traceability helps manufacturers identify and isolate quality issues, enabling them to quickly address problems and prevent the distribution of defective products.
Regulatory Compliance: Many industries, such as food, pharmaceuticals, and medical devices, have strict regulations regarding product traceability. Compliance with these regulations is essential to avoid costly penalties and maintain a good reputation.
Inventory Management: Traceability data can provide valuable insights into inventory levels, stock movement, and product expiration dates, allowing manufacturers to optimize their inventory and reduce waste.
Supply Chain Optimization: By tracking product movement and identifying inefficiencies, manufacturers can streamline their supply chain processes, reduce costs, and improve overall operational efficiency.
Customer Satisfaction: Traceability enables manufacturers to provide customers with detailed information about the origin and journey of their products, fostering trust and transparency.

How to Track Production in Manufacturing?

Implementing traceability solutions can reduce production downtime by up to 50%, as manufacturers can quickly identify and address issues in the supply chain. Tracking production in manufacturing can be achieved through various methods and technologies, including:

Barcode Scanning: Barcodes are widely used to track and identify products, components, and materials throughout the manufacturing process.

Radio Frequency Identification (RFID): RFID tags attached to products or packaging can be scanned, providing real-time data on the location and status of products.

QR Codes (Quick Response Codes): These are two-dimensional barcodes that can store a significant amount of data, including text, URLs, or other information. In manufacturing, QR codes can be scanned to reveal details about the product’s journey through the production line, its specifications, and even its destination after leaving the factory. They are particularly useful because they can be scanned quickly and from any angle, which is ideal for fast-paced production environments.

Tracking and Tracing: 2 Sides of The Same Issue

Tracking and tracing are integral components of modern supply chain management, ensuring the visibility and accountability of products as they move from origin to destination. While they are often discussed together and share similarities, they address different aspects of supply chain visibility and management.

Tracking refers to the process of monitoring the progress and location of finished goods as they move through the supply chain in real-time or near-real-time. While Tracing involves identifying the historical path of a product, including its origins, processing steps, and any transformations it has undergone.

Tracking improves operational efficiency, reduces delays, and enhances customer satisfaction by providing up-to-date information on product locations. While tracing ensures regulatory compliance, supports quality assurance, and facilitates swift and effective recall processes by providing detailed historical records.

How to Improve Traceability?

To improve traceability in manufacturing, businesses can implement the following strategies:

Standardize Data Collection: Establish a consistent and comprehensive system for data collection, ensuring that all relevant information is captured and stored in a centralized database.

Leverage Technology: Invest in advanced technologies, such as barcoding QR Codes and RFID, to automate the data collection and tracking processes.

Integrate Systems: Ensure seamless integration between various systems, such as ERP, warehouse management, and transportation management, to create a holistic view of the supply chain.

Collaborate with Supply Chain Partners: Foster strong partnerships with suppliers, and distributors to enhance end-to-end traceability and transparency.

Implement Traceability Protocols: Develop and enforce clear protocols for product identification, labelling, and handling to ensure consistent traceability practices across the organization.

Analyse and Optimize: Regularly review traceability data to identify areas for improvement, optimize processes, and make informed decisions to enhance overall supply chain performance.

Case Studies About Traceability in The Pharmaceutical Industry

The global pharmaceutical track and trace solutions market size is expected to reach $6.1 billion by 2027, growing at a CAGR of 20.9%.

Cipla Limited, a prominent pharmaceutical company in India, undertook the initiative to implement a comprehensive traceability system to combat the challenges of counterfeit drugs, meet stringent regulatory requirements, and enhance overall supply chain efficiency. With its extensive product portfolio and global reach, Cipla needed a robust system to ensure product safety and regulatory compliance.

Challenges:

Data Management: The analysis of inaccurate or irrelevant data, along with the storage and access of massive amounts of data, can lead to a decline in overall supply chain performance and efficiency.

Technological Advancements: Keeping up with technological advancements and integrating them into the supply chain to improve efficiency and performance is a constant challenge.

Unpredictability and Volatility: Persistent unpredictability in the market, labor shortages, and global bottlenecks are critical challenges that supply chains must navigate.

Sustainability: Incorporating sustainable practices into the supply chain is becoming increasingly important and can be challenging to implement effectively.

Technological Solutions:

Serialization: By implementing serialization for product lines, assigning a unique identifier to each package in the form of a 2D barcode or QR code. This code contains detailed product information such as product code, batch number, and expiration date.

Barcodes: Barcodes have been the backbone of inventory management since their inception in the 1970s. These one-dimensional (1D) symbols encode data by varying the spacings and widths of parallel lines. They are cost-effective and widely used for managing large volumes of products, allowing for quick scanning and identification of items within a supply chain.

QR Codes: Quick Response codes, are two-dimensional (2D) matrix barcodes that can store significantly more information than traditional barcodes – up to 7,089 numeric characters compared to barcodes’ of 20-25. This capacity enables QR codes to hold a wealth of data, including URLs, serial numbers, and even images, which can be accessed with a simple scan using a smartphone or dedicated scanner.

RFID Technology: RFID tags are used to monitor the products’ movement in real-time. These technologies help ensure that products are stored and transported under optimal conditions.

At Last:

Traceability is a vital component of modern supply chain management, especially in industries where product safety and regulatory compliance are paramount. By leveraging advanced technologies and fostering collaboration across the supply chain, companies can enhance product safety, improve operational efficiency, and build consumer trust. The benefits of traceability extend beyond compliance, offering significant advantages in quality control, risk management, and brand reputation.

Traceability: A Vital Component of Modern Supply Chain Management.

Let's contact us to optimize supply chain with safeguarding your operations.

Authenticate Anti Counterfeit Solutions Technology: Let’s Detect Counterfeiters

Posted on February 13, 2024July 9, 2024 by ecubix@saurin

Counterfeiting is a serious and growing problem that affects many industries, from luxury goods to pharmaceuticals, from sporting goods to healthcare products. Counterfeiters not only harm the revenues and reputation of legitimate businesses but also pose significant risks to the health and safety of consumers. According to a report by the OECD, the global trade in counterfeit and pirated goods amounted to 460 billion euros ($522 billion) in 2023, which is 3.3% of world trade. This is a significant increase from the previous estimate of 2.5% in 2016. The report also identifies the main industries, economies, and trade routes involved in this illicit trade.

How can businesses and consumers protect themselves from the threat of counterfeiting? How can they ensure the authenticity and integrity of the products they buy or sell? One of the most effective and innovative ways is to use anti counterfeit solutions technology, which leverages the power of digital and physical tools to verify the identity and origin of products and to track and trace them along the supply chain.

Let’s understand the most common and advanced anti counterfeit solutions, and how they can help businesses and consumers fight against counterfeiting using channel performance management technology.

What is anti counterfeit solutions technology?

Anti-counterfeit solutions technology is a broad term that encompasses various types of devices, systems, and methods that are designed to prevent, detect, and deter counterfeiting. Anti counterfeit solutions technology can be classified into two main categories: overt and covert.

Overt anti counterfeit solutions technology is visible and easily recognizable by the human eye, such as holograms, watermarks, color-shifting ink, or security labels. They are meant to provide a quick and simple way for consumers and inspectors to verify the authenticity of a product, without the need for any special equipment or training.

Covert anti-counterfeit solutions technology is hidden and requires a specific device or software to reveal or decode them, such as RFID tags, NFC chips, QR codes, or digital signatures. They are meant to provide a more secure and reliable way for businesses and authorities to authenticate and track products, and to access additional information or features related to them.

Both overt and covert anti-counterfeit solutions technology can be applied to the product itself or its packaging or both. They can also be combined to create a multi-layered protection system that enhances the security and functionality of the anti-counterfeit solution.

What are the benefits of anti-counterfeit solutions technology?

Anti-counterfeit solutions technology can provide various benefits for both businesses and consumers, such as:

Protecting brand reputation and customer loyalty: By using anti counterfeit solutions technology, businesses can demonstrate their commitment to quality and safety, and to protect their brand image and value from being tarnished by counterfeiters. Consumers can also trust that they are buying genuine and reliable products and that they are supporting the original creators and innovators.

Increasing revenues and reducing losses: By using anti-counterfeit solutions technology, businesses can prevent counterfeiters from stealing their market share and profits, and from causing damage to their assets and inventory. Consumers can also avoid wasting money and resources on fake and inferior products, and from being exposed to potential health and safety hazards.

Enhancing product functionality and customer experience: By using anti counterfeit solutions technology, businesses can add value and functionality to their products, such as providing additional information, services, or features that can improve the product performance, quality, or usability. Consumers can also enjoy a more convenient and engaging customer experience, such as accessing product details, reviews, or feedback, or interacting with the brand or other customers.

Authenticate Anti-Counterfeit Solutions Technology

Let’s Detect Counterfeiters. Safeguard your products with our advanced technology and ensure authenticity from production to purchase.

Let's get a free demo today.

What are some examples of anti-counterfeit solutions technology?

There are many types of anti-counterfeit solutions technology available in the market, each with its advantages and disadvantages, depending on the industry, product, and application. Here are some of the most common and advanced examples of anti counterfeit solutions technology:

RFID tags: RFID (Radio Frequency Identification) tags are small electronic devices that can store and transmit data using radio waves. They can be attached to or embedded in products or packaging and can be read by RFID readers at a certain distance. RFID tags can provide unique and tamper-proof identification for each product and can enable real-time tracking and tracing of products along the supply chain. RFID tags can also store and update information such as product origin, expiration date, or temperature. RFID tags are widely used in industries such as pharmaceuticals, healthcare, logistics, or retail.

NFC chips: NFC (Near Field Communication) chips are similar to RFID tags, but they operate at a shorter range and require closer contact between the chip and the reader. NFC chips can be read by NFC-enabled smartphones or devices, which makes them more accessible and user-friendly for consumers. NFC chips can also enable interactive and dynamic features, such as launching a website, an app, or a video, or verifying a digital certificate or a payment. NFC chips are widely used in industries such as luxury goods, sporting goods, or entertainment.

QR codes: QR (Quick Response) codes are two-dimensional barcodes that can store and display data in a matrix of black and white squares. They can be printed on products or packaging and can be scanned by smartphones or devices with a camera and a QR code reader app. QR codes can provide a link to a website or a platform that can verify the authenticity of the product and can also provide additional information or services related to the product, such as product details, reviews, feedback, or loyalty programs. QR codes are widely used in industries such as cosmetics, food, or beverages.

Digital signatures: Digital signatures are cryptographic codes that can be attached to or embedded in digital documents or files, such as PDFs, images, or videos. They can be generated and verified by using a public and a private key, which are unique and secure for each sender and receiver. Digital signatures can provide proof of origin, integrity, and authenticity for digital content, and can also prevent unauthorized modification or duplication of the content. Digital signatures are widely used in industries such as education, finance, or media.

How to choose the best anti-counterfeit solutions technology for your business?

There is no one-size-fits-all solution when it comes to anti counterfeit solutions technology. The best anti-counterfeit solutions technology for your business depends on various factors, such as:

Your industry and product: Different industries and products may have different requirements and challenges when it comes to counterfeiting, such as the level of risk, the type of counterfeiters, the customer expectations, or the regulatory standards. You should choose an anti counterfeit solutions technology that is suitable and effective for your industry and product, and that can address your specific needs and goals.

Your budget and resources: Different anti counterfeit solutions technology may have different costs and benefits, both in terms of initial investment and ongoing maintenance. You should choose an anti-counterfeit solutions technology that is affordable and feasible for your budget and resources, and that can provide a positive return on investment and value for money.

Your target market and audience: Different anti counterfeit solutions technology may have different levels of accessibility and usability, both for businesses and consumers. You should choose an anti-counterfeit solutions technology that is compatible and convenient for your target market and audience, and that can enhance their satisfaction and loyalty.

Case Studies and Examples:

Everledger uses blockchain to track diamonds and gemstones, preventing their illegal trade and ensuring ethical sourcing.
Yoplait’s “Code Your Yogurt” campaign combines QR codes with gamification, engaging consumers in product verification while collecting valuable data.
Pharmaceutical giant Pfizer implements serialization and track-and-trace systems to monitor the movement of its medication, safeguarding product integrity.
The Bank of England utilizes complex watermarks and security threads in its banknotes, making them virtually impossible to forge.
Gucci’s intricate micro-embossed logos on leather goods require specialized tools and craftsmanship to replicate, ensuring their exclusivity and value.
Apple utilizes tamper-evident seals on its iPhone packaging, deterring unauthorized repairs and ensuring consumers receive genuine devices.
Louis Vuitton employs RFID chips embedded in hang tags to track product movement and authenticate their legitimacy at authorized retailers.
Coca-Cola implemented tamper-evident caps with intricate patterns on its juice bottles, preventing refill scams and safeguarding product quality.

eCubix is a leading provider of anti-counterfeiting software solutions that use the latest technology of QR codes to ensure the authenticity and traceability of products. It enables manufacturers to manage their production units efficiently and securely, by creating and storing unique identifiers or codes for each product, where the product information, such as origin, ingredients, quality, and expiration, can be recorded and verified. These solutions also enable distributors and retailers to operate their supply channels quickly and smoothly, by scanning the QR codes and accessing the product information or verifying the authenticity of the products.

It can also provide feedback or incentives to the users, such as rewards, coupons, or loyalty points. Apart from that, it can be applied to various industries, such as pharmaceuticals, cosmetics, food, and beverages. eCubix is the top-rated company in the anti-counterfeiting software market, by providing innovative, reliable, and cost-effective solutions for brand protection and product safety.

With this exploration of anti counterfeit solutions technology, we’ve equipped ourselves with valuable knowledge to combat this pervasive issue. From the digital guardians of software to the visible clues of technology and the fortified systems safeguarding the supply chain, a multi-layered approach is key to protecting brands, consumers, and public health. By staying informed, embracing innovation, and collaborating across industries, we can strive for a future where genuine products reign supreme.

Conclusion

Anti-counterfeit solutions technology is a powerful and innovative way to protect your business and your customers from the threat of counterfeiting. By using anti counterfeit solutions technology, you can ensure the authenticity and integrity of your products and add value and functionality to them. You can also increase your revenues and reduce your losses and protect your brand reputation and customer loyalty.

However, not all anti-counterfeit solutions technologies are the same, and you should carefully consider your industry, product, budget, resources, market, and audience when choosing the best anti counterfeit solutions technology for your business. You should also keep up with the latest trends and developments in anti-counterfeit solutions technology, as counterfeiting is an evolving and dynamic problem that requires constant innovation and adaptation.

If you are interested in learning more about anti-counterfeit solutions technology, or if you need help in implementing or improving your anti-counterfeit solutions strategy, please contact us today. We are a leading provider of anti counterfeit solutions technology, and we can help you find the best solution for your business.

Secure Your Products with Cutting-Edge Technology!

Ensure the integrity of your brand and protect your customers with our state-of-the-art anti-counterfeiting solutions.

Let's Contact Us To Know About Authenticate Anti-Counterfeit Solutions Technology.

By 2025, Let’s Enable A Powerful Channel Performance Management (CPM) System

Posted on January 9, 2024July 10, 2024 by ecubix@saurin

A well-implemented channel performance management system can be a game-changer for businesses relying on channel sales. By providing actionable insights, streamlining operations, and fostering strong channel partnerships, it can contribute significantly to increased sales, revenue growth, and a more sustainable and profitable business model.

Remember, the success of a CPM depends on several factors, including the specific needs of your business, the chosen platform, and the quality of data and implementation. Carefully evaluate your requirements, choose the right solution, and dedicate resources to data quality and user adoption for optimal results.

Benefits of Channel Performance Management System:

In today’s competitive business landscape, effective channel performance management has become crucial for companies across various industries. From printing, tracking & tracing to liquidation, businesses are constantly seeking ways to optimize their distribution channels.

Visibility of Stock Availability:

Accurate stock visibility across channels enables better demand forecasting and inventory allocation. This prevents stockouts in high-demand channels and prevents excess inventory in slower channels, optimizing inventory management and reducing associated costs. Real-time visibility into stock levels across channels enables better coordination with suppliers. You can optimize production schedules, transportation routes, and warehouse operations, leading to a more efficient and cost-effective supply chain.

Insight on Near Expiry Stock:

Near expiry stock can be a headache for businesses, but a CPM system can be a valuable tool in turning it into an opportunity. You can set up alerts to notify you when specific products are close to expiring, allowing for proactive measures. You can offer deeper discounts in channels with lower sales velocity for those products. Use historical data to forecast sales for near-expiry products and plan accordingly. Generate reports on near-expiry stock levels, sales performance, and the effectiveness of clearance initiatives. By leveraging the insights from your CPM system, you can effectively manage near-expiry stock, minimize waste, and even turn it into a profitable opportunity.

Buying behaviour of End customer:

Analysing sales data across channels can reveal patterns in customer purchases, such as preferred products, price sensitivity, and purchase frequency. You can identify which channels attract specific customer segments based on their buying habits. Comparing conversion rates across channels can indicate how different channel experiences influence customer buying decisions. Higher conversion rates in a specific channel may suggest a more user-friendly experience or targeted product offerings. Design loyalty programs with channel-specific rewards and benefits to incentivize repeat purchases and increase customer engagement.

Demand & Supply Planning:

Demand and supply planning is a critical aspect of Channel Performance Management (CPM) Systems, as it plays a vital role in optimizing inventory levels, meeting customer needs, and maximizing profitability across all channels. Advanced CPM solutions leverage AI and machine learning to predict future demand based on external factors like seasonality, promotions, and market trends. This allows for proactive adjustments in supply chain planning and mitigates the risk of stockouts or overstocking.

Enable a Powerful Channel Performance Management (CPM) System Today

Ready to boost your channel performance? Implement a powerful CPM system to optimize your sales and distribution channels for maximum efficiency and results.

Get Started Now! Click Here To Get A Free Demo To Know More About Our CPM Solutions.

Compliance with Government Guidelines:

Integrate your CPM system with regulatory databases to stay updated on the latest government guidelines applicable to your industry and channels. Map specific regulations to individual channels based on their unique product offerings, target audiences, and operating models. Proactive compliance management through your CPM system can help prevent costly penalties and fines associated with non-compliance. Demonstrating a commitment to compliance can boost your brand reputation and build trust with customers and regulators.

Protect Brand Value:

Utilize the CPM system to identify potential risks to brand quality. This involves a thorough analysis of internal and external factors that could negatively impact the organization’s objectives. For instance, counterfeit products and unauthorized resellers are potential risks. By implementing these strategies, you can leverage your CPM system to proactively identify and mitigate counterfeit risks, protecting your brand value and ensuring a trusted and consistent customer experience across all channels.

Comply with GS1 Standard:

The GS1 standard is a set of globally recognized rules and specifications for identifying and exchanging information about products, assets, and locations. CPM system organizes and centralizes product and asset data within your CPM system. Ensure accuracy and consistency with GS1 data quality rules. Integrate your CPM system with GS1 data sources to automatically generate and manage GS1 identification. Leverage CPM integrations or plugins to generate GS1-compliant QR directly from your system, reducing manual errors and streamlining product identification.

Empower Customer Engagement:

Leverage CPM system data to segment customers based on demographics, purchase history, channel preferences, and engagement levels. This allows you to personalize marketing messages, product recommendations, and promotions for different segments, increasing relevancy and engagement. Dynamically generate personalized offers and discounts based on individual customer preferences and real-time data. This creates a sense of exclusivity and incentivizes engagement. Enhanced customer engagement across all channels translates to increased sales, conversion rates, and overall channel performance.

Control over Cross Selling:

Cross-selling is a powerful way to realize revenue synergies and involves delivering products and services traditionally sold to one set of customers to another set. To control cross-selling using a channel performance management system, you can focus on the following 6 core dimensions, often referred to as the “six Cs”: Complementarity, Connection, Capacity, Capability, Compensation and Commitment.

Identify Employee Target Vs Achievement:

Utilize historical data and industry benchmarks to set realistic and achievable targets for each channel, considering its unique characteristics and resources. Configure automated reports and alerts to notify managers and employees about performance milestones, approaching deadlines, or significant variances from targets.

Maintain open communication channels to discuss performance expectations, provide feedback, and address any challenges. Be willing to adjust targets based on changing market conditions, unexpected events, and evolving channel dynamics.

Improve efficiency, drive growth, and enhance decision-making.

Unlock the full potential of your sales channels with a powerful Channel Performance Management system.

Click Here To Get A Free Demo & Consultation About How CPM Can Transform Your Business.

By addressing this industry based advantages through the implementation of eCubix’s channel performance management systems that encompass dashboards for summarized visibility, detailed reports for analysis purposes; effective loyalty programs with proper rewards tracking; regulatory compliance measures like GS1 standards; and counterfeit checkpoints, businesses can enhance their overall operations, mitigate risks, and achieve sustainable growth.

At eCubix, we take pride in our successful delivery of Channel Performance Management software solutions to some of the biggest names in the corporate world. Our expertise and dedication have enabled us to cater to the needs of Fortune 500 companies.

Our Channel Performance Management software solutions are designed to help these industry leaders optimize their sales channels and enhance overall performance. By leveraging our innovative technology and tailored approach, we assist these companies in streamlining their channel operations, improving partner relationships, and driving growth.

Conclusion:

As 2025 unfolds, embracing the power of Channel Performance Management (CPM) isn’t just a suggestion, it’s a strategic imperative. In a landscape teeming with competition and shifting customer demands, optimizing partner relationships, and driving channel excellence is the key to unlocking sustainable growth.

By embracing Channel Performance Management and its transformative potential, we can forge a future where partnerships flourish, customer experiences soar, and sustainable growth becomes the only acceptable reality.

Remember, the time to act is now. Let’s make 2025 the year we unlock the true power of Channel Performance Management and build a thriving future, together.

Most Asked FAQs:

(1) What is Channel Performance Management (CPM)?

CPM is a system that provides comprehensive insights into how products and services perform across different sales channels, like retail, wholesale, etc. Channel Performance Management (CPM) focuses on understanding, monitoring, and optimizing the effectiveness of your distribution channels.

CPM is a powerful tool for businesses of all sizes to maximize the performance of their distribution channels and achieve their sales goals.

(2) How can CPM assist with liquidation?

Identifying high-value items for liquidation to maximize recovery rates. Managing slow-moving inventory to prevent write-offs and losses. Improving cash flow by optimizing the liquidation process.

(3) How Anti-counterfeit is beneficial using CPM system?

Our Channel Performance Management (CPM) systems are designed to work in harmony with anti-fraud technologies that utilize QR codes. This allows customers to effortlessly authenticate the product by scanning it with their smartphones prior to making a purchase.

(4) How to optimize inventory control to avoid stockouts and overstocking?

Optimizing inventory control real-time visibility into inventory levels. By leveraging data analytics and inventory control, businesses can make informed decisions about inventory replenishment, ensuring optimal stock levels and minimizing the risk of stockouts or overstocking.

(5) How much does CPM software cost?

The cost of Channel Performance Management software can vary depending on the features needed, the number of users, and implementation complexity. It’s best to discuss your specific needs with vendors to get a tailored quote.

Curious About the Cost of Channel Performance Management Software?

Wondering how much it will cost to optimize your channel performance? Get detailed pricing information tailored to your needs.

Find Out Now! Let's Contact Us To Discover The Cost of Our CPM Solution.

The Benefits of Product Serialization and Traceability in FMCG

Posted on June 23, 2022June 5, 2024 by ecubix@admin

In the FMCG sector, the use of a serialization system, as well as a track and trace system, helps in maintaining transparency with the customer and optimizes the processes. The use of these systems helps in improving customer services. In addition to food safety practices and quality assurance testing, traceability, and serialization of FMCG products are of utmost importance for large-scale and small-scale businesses in the sector.

The benefits FMCG companies draw from the Product Serialization system

The use of product serialization systems can improve the operational efficiency of the FMCG companies for a better supply of safe and clean food products. Serialization systems can support the improvement of logistics and transport inside the FMCG sector.

Recognition of a low-quality product

The use of an end-to-end track and trace system helps in monitoring the quality of the FMCG product throughout the supply chain. The quality of short shelf life FMCG products can fluctuate easily and needs monitoring. Traceability and serialization step in to make a constant monitoring of product quality possible.

Serialization allows each partner in the supply chain to track product at every step, from point of manufacture to the moment it’s in the consumers hands. In addition, when the product is returned, the serial number can be used on all shipping documents to provide information on status and the reason for the return. The information can be of great value in determining whether the product has any quality problems.

Product serialization also helps in the identification of the fault or issue with recalled products so that the same issue is not repeated in future batches.
Therefore, the traceability of products helps the manufacturing companies too

Smooth flow of recalled products

Non serialized products can block the supply chain because companies, employees, and customers lose sight of the products and their status in the chain. Without the use of a proper track and trace system, the productivity of the supply chain goes down. When the FMCG products are serialized, the customers can get more information about the products they choose from the supermarket shelves. The use of product serialization codes also helps smooth the backflow of products to the seller because the products are easily tracked, and the logistics process can be optimized accordingly.

Demand management

The use of a track and trace system by an FMCG company can help increase the scope of demand management. The tracking of products with the help of the codes can help improve supply to the right demand points. The increased traceability of the products helps speed up the supply speed so that the demand in grassroots level stores is easily met within a certain timeframe.

Half of the business in the FMCG sector depends on supplying to the demand at the right time. Now, demand might not arise from a single audience segment all the time. Depending on the demand for the products over a period, the company must supply products to the stores selling them.

Traceability of products and the use of end-to-end track and trace systems help in demand management across different submarkets and stores. The use of product serialization codes can help the organization know which products have gone to which area. The implementation of these solutions helps in improving demand management and other processes linked with the supply chain.

Better impact on sales management and wholesale chains

The company can track the sales performance of different products and know why the performance of certain products is getting affected negatively. The use of trace systems provides crucial information to the marketing and sales team. The information can be used to control the sales funnel and the products that go out to the stores.

For example, the company can focus on either improving the quality of low-performing products or increasing the supply of high-performing products so that the revenue and profits increase further. The information collected from the product serialization codes can be used to analyze product performance and alter sales and marketing strategies for the company. The commercial strategy can be tweaked for specific results on the marketing and sales front.

The use of track and trace systems and serialization codes can have benefits for the business management sector, as well as the quality improvement sector in the FMCG industry. The companies can collect crucial data, analyze and create strategies for future industry benchmarks so that customers are satisfied and there is strong brand recall. The information collected can also be used to create a new production system and flow for better product quality in the long run.

The Benefits of Product Serialization and Traceability in FMCG

The benefits FMCG companies draw from the Product Serialization system

Recognition of a low-quality product

Product serialization also helps in the identification of the fault or issue with recalled products so that the same issue is not repeated in future batches. Therefore, the traceability of products helps the manufacturing companies too.

Smooth flow of recalled products

Demand management

Better impact on sales management and wholesale chains

When it comes to wholesale chains and sales dealerships, the use of serialization codes can help the company not only track the activity of the product down the logistics chain but also improves the prospect of the sales by letting the company analyze how the products are performing in the ground-level market.
The company can track the sales performance of different products and know why the performance of certain products is getting affected negatively. The use of trace systems provides crucial information to the marketing and sales team. The information can be used to control the sales funnel and the products that go out to the stores.
For example, the company can focus on either improving the quality of low-performing products or increasing the supply of high-performing products so that the revenue and profits increase further. The information collected from the product serialization codes can be used to analyze product performance and alter sales and marketing strategies for the company. The commercial strategy can be tweaked for specific results on the marketing and sales front.
The use of track and trace systems and serialization codes can have benefits for the business management sector, as well as the quality improvement sector in the FMCG industry. The companies can collect crucial data, analyze and create strategies for future industry benchmarks so that customers are satisfied and there is strong brand recall. The information collected can also be used to create a new production system and flow for better product quality in the long run.

Role of Product Traceability in Consumer Goods Industries

Posted on June 23, 2022June 5, 2024 by ecubix@admin

Traceability has emerged as one of the most integral highlights of the manufacturing process.

One of the conventional assumptions regarding a Track and Trace system revolved around the notion that it is applicable only for products subject to recalls. However, product traceability must be a mandatory aspect of the manufacturing process of every consumer goods provider.

Product traceability introduces many promising benefits such as cost reduction, resource efficiency, and improved productivity. With the help of efficient tracking and tracing solutions, enterprises can strengthen their control over the production process on a granular level. Are track and trace a necessity for consumer goods industries? How does traceability work for consumer goods? Let us find the answers in the following discussion.

Definition of Product Traceability

Before you dive into the working of track and trace solutions, it is important to know the basic definition of product traceability. Product traceability refers to the ability to track all aspects of a product’s manufacturing and distribution.

Organizations with a competent tracking and tracing system can access data regarding the production lifecycle, product destinations, and inspection notes.

Types of Product Traceability

The next crucial highlight you need before deploying a track and trace system is to be aware of the types of product traceability. You must note that traceability focuses on many other things related to the product beyond its location. Product traceability also accounts for many other factors such as batch numbers, product use by consumers, inspection notes, product destination.

The two most common types of product traceability include upstream tracing and downstream tracing. Both of them have their unique advantages, depending on the traceability use case. Here is a brief explanation of the two types of product traceability systems.

Upstream Traceability

Upstream traceability refers to the process of tracing goods opposite to the logistical chain. The upstream track and trace solutions are applicable in the case of recalls which go back from the customer to the retailer and then the supplier. One of the common examples of upstream tracing is clear in the food industry. The European Union has imposed regulations for traceability of food products to ensure better customer protection.

Downstream Traceability

Downstream tracing refers to the process of tracing along with the normal flow of the supply chain. Therefore, product traceability starts from the sourcing point to the manufacturing stages before going through retail, sales, and consumer use. Most consumer goods companies use downstream track and trace system in the backend of their operations.

Why is Product Traceability Important for Consumer Goods Companies?
The demand for comprehensive and powerful product traceability solutions has been growing at exponential rates in recent times. Enterprises are actively seeking IT solutions for standardized tracking and tracing of consumer goods. Why? Here are some of the notable benefits of product traceability for consumer goods companies.

No More Counterfeit Goods

Counterfeit products are one of the biggest challenges for the consumer goods industry right now. Counterfeit goods present high risks as brands can lose sales potential as well as the trust of customers. The fashion industry is one of the biggest examples of a consumer goods industry facing the brunt of counterfeit products.

Effective track and trace solutions can help in verifying the journey of products from the stage of sourcing to the hands of the end consumer. As a result, product traceability can prevent counterfeiting in various sectors such as cosmetics, electronics, luxury goods, and spirits.

Compliance with Regulations

The next significant aspect pointing toward the necessity of track and trace solutions reflects on regulatory precedents for consumer goods. The constantly changing regulations in consumer goods industry focus on providing better consumer protection.
For example, the food industry has been witnessing a slew of updated regulatory standards. Product traceability helps consumer goods companies ensure that their products comply with new regulatory standards at all stages.

Proof of Origin

Many consumers are interested in figuring out the location from where raw materials for making the product have been sourced. Consumers are worried about the ethical concerns in manufacturing different products.

For example, buyers want to know that farmers have not been exploited for the coffee they enjoy every morning. Product traceability can offer flexible access to historical data regarding the sourcing of raw materials, thereby enabling easy verification of the product’s origins.

Implementing Product Traceability in Consumer Goods Companies
You can implement an efficient track and trace system for consumer goods companies with a clear idea regarding the essential requirements for the same. Here are some of the most important traits you need for implementing product traceability in consumer goods companies.

Serialization of product lots
Marking and labeling identifiers
Lot tracking and validation
Container recognition, labeling, and validation
Process tracking and validation
Process feedback and enforce improvements

Are You Prepared for Adopting Product Traceability?
Product traceability is more than just a necessity for consumer goods companies to earn the trust of customers. Effective track and trace solutions tailored according to your enterprise business objectives and market requirements can deliver promising benefits. Whether you are tracing the product from manufacturing to consumers or back from consumers to the manufacturers, product traceability delivers many productive insights. Find the best IT solutions for making the most of product traceability benefits right now.