Several people have inquired. What does “track and trace” mean exactly? No longer perplexed. Track and trace refer to the capacity to keep track of a product’s status along the value chain. Every product inventory’s past and current whereabouts and a history of product custody can all be determined via track and trace. Supply chain visibility is one of the most challenging issues that manufacturers encounter. It demonstrates the ability to track manufactured and dispersed goods along the supply chain.
This can be difficult to put in place at times, especially if production processes are outsourced, and supply chain diversions are a threat. Illegal overruns are a result of the complex product distribution across multiple regions.
How it works:
track and trace solutions generate unique product identification numbers by utilizing good software, which may also be smoothly embedded onto the product packaging or sealed as a security lock during the manufacturing process. Distributors, retailers, and customers verify the unique identifying codes using their smartphones. Most wholesalers and merchants scan and authenticate the products to ensure they receive the original goods for sale.
On the other side, consumers can scan and authenticate things to confirm that their purchase is likewise legitimate. During the verification procedure, product data and scan locations are gathered. The usage of unique product identification numbers aids in disrupting counterfeit attempts and exposing counterfeit places, making it easier to identify the source. Furthermore, product ID verification allows marketers to acquire insights into industry trends.
This track and trace solution contains many practical details, including:
- Which products are the best-selling and which are on their way up?
- The places where the things are sold.
- What products are sold by which distributors?
- Product sales outside of the distribution channel trigger alerts.
Company executives can gather product and consumer trends and insights by analyzing such valuable insights. A heatmap of sales locations and insights about the best-selling products in the retail industry: this data enables a corporation to become more nimble and better allocate resources to respond to emerging trends. Brand owners can be confident that they will be ahead of the competition if they use their collected data.
The Sum Up
Hence these Track and trace solutions provide vital information beneficial to company leaders and customers.