Supply Chain Track and Trace: Benefits, Challenges & Best Practices

Did you know that most businesses have still not opted for the digital way? Besides, the majority of them have not yet implemented digital track and trace systems in their supply chains.

As per a recent survey, 52% global consumers are buying counterfeit products, which results in great losses for the company. But how can supply chain track and trace solutions save your business from such consequences? We are going to discuss all of that today.

What is Supply Chain Track and Trace?

Supply chain track and trace is the process through which you can monitor your entire supply chain digitally in real-time. Simply put, supply chain tracking is the process through which you can easily monitor and manage all products that go through your supply chain. It gives you the power to view your goods in real time and take necessary actions when required.

Why Should You Implement Track and Trace Solutions?

Now, why should you implement supply chain tracking? What benefits of supply chain management does traceability bring? Here are some major benefits of supply chain management that track and trace solutions bring to the table.

• Prevents Counterfeiters

One of the major challenges of supply chain management is counterfeiting. Let’s be honest: Nobody wants their brand’s reputation to go down the drain due to some cheap copy of their product. This is where track and trace comes into play. Since supply chain track and trace systems are backed by a robust software, you will get immediate notifications on intrusions and suspicious activities.

• Maintains Transparency

Yes, track and trace solutions can also help you solve the transparency challenges of supply chain management that cause various issues. Supply chain tracking helps you get accurate data on the incoming and outgoing products, the landmarks they have crossed, progress made, and other important metrics. On top of that, proper transparency also helps you detect upcoming supply chain challenges and prepare accordingly.

• Better Customer Service

“Customer is the KING,” and with Gen Z customers having high expectations regarding customer service, organizations need to up their game. The best way to level up your customer service would be implementing supply chain track and trace solutions. Track and trace solutions bring forth transparency, thus, it would help you give proper assurance to customers regarding their orders.

• Zero Manual Error

In the age of digitization, companies that still adhere to manual systems are prone to manual errors and supply chain challenges that can be risky. However, by implementing a solid supply chain tracking system, you can eradicate the chance of manual errors from your supply chain management. Since supply chain tracking systems automatically store all data in the system, you don’t have to fill in manually.

• Saves Money

Yes, track and trace systems can save you tons of money! How? Through proper recall management.

Whenever an organization has to recall a product from the market due to quality issues, they have to recall all the batches, even the ones that don’t have any issue. But, with track and trace solutions, they can easily identify the batches that have issues, and recall only those particular batches, and let the others stay at market. Through this, companies can save tons of money and have proper recall management.

What are the Common Challenges that Track and Trace Solutions Bring?

There are always two sides of a coin. In the case of track and trace systems, there are certain supply chain challenges that organizations might face while implementing it in their existing system.

There are high risks regarding data security. Since supply chain tracking solutions need to be implemented throughout the organization, data breach risks become high.

Though track and trace solutions are a one-time investment, the initial cost is quite high. On top of that, managing a full-fledged supply chain track and trace system is challenging, as it will cost you money.

Since large enterprises have vast supply chains, the implementation process turns out to be extremely complex.

What are the Supply Chain Best Practices for Implementing Track and Trace Solutions?

Despite the supply chain challenges, companies are ready to invest in solid tracking solutions. However, there are certain tips and tricks that you should know to enhance the efficiency of track and trace solutions.

• Embed Advanced Technologies

Supply chain track and trace solutions thrive in an environment of advanced technology. So make sure to embed technologies like smart QR codes, RFID tags, etc. to enhance the productivity of supply chain tracking.

• Conduct Regular Audits

You must conduct regular audits to ensure that your supply chain management is intact and the track and trace solutions are working perfectly. Regular audits will also help you discover any upcoming challenges of supply chain management in the system and prepare for them accordingly.

• Hire Professionals

You should always hire professionals while implementing tracking solutions in your supply chain. You don’t want any case of data leakage or data breaching. So, make sure that the ones installing the system are experts.

• Train Your Employees

It is mandatory to train your employees after upgrading your supply chain with track and trace solutions. Why? To ensure that they know the ins and outs of the system and can work smoothly around it.

Final thoughts

Traceability is not the future, but the “present” of the market. Without proper tracking solutions, you cannot handle a vast organization. Moreover, it will make your company vulnerable to counterfeiters, pilferage, and other illegal activities, which will not only affect your sales, but also sway away the customers.

So, make sure to implement track and trace solutions as soon as possible. If you are looking for help from experts, contact Sepio Solutions at [email protected].