Why Is Real-Time Product Supply Chain Tracking So Important in Product Protection?

19 May, 2022
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Why Is Real-Time Product Supply Chain Tracking

The supply chain has never been so far-reaching and complex. And, undoubtedly, it is thanks to this global and efficient network that manufacturers can meet the increased customer demand for convenience and speed.

At the same time, as the global supply chain grows, so are the risks associated with it – for manufacturers and consumers alike. Real-time product supply chain tracking can be a powerful tool to enable product protection, ensure authentication, enhance customer experience, and boost brand image. How? Learn about the importance of real-time product supply chain visibility and tracking in this guide by Authena.io.

The Importance of Real-Time Product Supply Chain Tracking in the Industry

To understand why real-time product supply chain tracking is essential in today’s economy, it is important to understand two key factors:

  • The supply chain is more extended than ever
  • Products and supplies move through the supply chain at unprecedented speed.

So, now that the supply chain is no longer restricted to local producers and regional supplies, how can manufacturers ensure the authenticity, efficiency, and safety of each product to their end-users? Nearly 95% of today’s customers base their loyalty to a brand on the level of transparency offered.

Real-time product tracking solutions and technologies help manufacturers achieve real-time visibility of each unit through the supply chain. In turn, this allows them to monitor, track and schedule the journey of each product to the end customer.

Why Is It Important To Establish Real-Time Product Supply Chain Tracking in Order To Maintain the Quality of Your Products, Brand, and Customer Satisfaction?

The ability to track each product through the supply chain and to know where each unit is at any given time offers endless benefits to manufacturers and consumers. These include:

  • Improved product protection against fraud and counterfeit
  • Increased supply chain efficiency through the identification of repeated issues and bottleneck
  • Improved customer confidence and transparency
  • More accurate reporting, data, and scheduling through streamlined inventory management
  • Improved sustainability and reduced waste

With the trade of fake goods accounting for nearly 4% of the global market, more accurate tracking and reduced chances of counterfeiting are vital to protect brand reputation, customer experience, and income.

Why Is It Important To Establish Real-Time Product Supply Chain Tracking in Order To Maintain the Quality of Your Products, Brand, and Customer Satisfaction

How Do You Get Started Using a Product Tracking Solution as Part of Your Security Supply Chain Management?

Real time tracking product solutions should be part of your overall supply chain management strategy. These systems utilize a wide range of technologies, from enabled devices to location tracking.

End-to-end technology, such as Authena’s, is entirely designed with your brand’s supply chain needs in mind and can help prevent diversions, reduce bottlenecks and provide better customer service.

What Does the Shift to Artificial Intelligence and Connected Devices Bring to Supply Chains?

AIReal-time and unit-level supply chain traceability has always been essential. However, when the supply chain was limited to local manufacturers and supplies, there was no need for sophisticated tracking software or devices.

Now that brands rely always more on global chains of supply, manufacturers need to adapt by investing in connected devices and AI. These emerging technologies allow manufacturers to streamline the supply chain, maximize its efficiency, and secure every product handoff.

Why Supply Chain Automation With Artificial Intelligence Will Be of Great Importance to Companies in the Future

Automation is a vital aspect of real-time tracking technology. Through AI, manufacturers can collect vital data that is infinitely more accurate, relevant, and current than anything that can be connected manually. This data can be used in a variety of ways, including reducing waste, predicting sales, maximizing income, and boosting efficiency.

But even more importantly, automation allows manufacturers to become highly scalable and adapt to the changing needs of customers.

How tracking technology works

Authena.io’s tracking technology works by combining the power of blockchain and multiple proprietary IoT devices to provide real-time traceability for physical and digital products and assets such as NFTs.

The process starts by assigning a unique identifier to each product or asset at the point of origin. This identifier is then stored on a blockchain, which creates an immutable record of the product’s authenticity and traceability. As the product moves through the supply chain, it is tracked using a combination of proprietary IoT devices such as NFC tags, GPS trackers, and sensors, which provide real-time location and condition data.

This tracking data is then securely stored on the blockchain, providing a transparent and tamper-proof record of the product’s journey from the point of origin to the end consumer. This technology not only helps to prevent counterfeiting and diversion but also enables brands to optimize their supply chain by providing real-time data on inventory levels, product quality, and delivery times. 

What are the shipment tracking technology

Shipment tracking technology refers to the use of various technologies such as NFC tags, GPS trackers, and sensors to track the movement and location of shipments during transportation. These technologies enable real-time monitoring of shipments, providing valuable data on the status and condition of the goods being transported.

By using shipment tracking technology, companies can optimize their supply chain and logistics operations, improve delivery times, and reduce the risk of lost or damaged shipments. Authena.io’s platform combines the power of blockchain and IoT devices to provide advanced shipment tracking capabilities, enabling brands to ensure the authenticity and traceability of their products throughout the entire supply chain.

What Should Retailers Do in the Era of Connected Devices To Provide Customers With Better Supply Chain Visibility and Digital Commerce Experiences?

Connected devices are undoubtedly beneficial for manufacturers looking to protect their products. But they can be instrumental to users looking for improved transparency as well.

Connected devices often work when paired with a smart packaging solution. For example, a customer’s smartphone might be able to read an NFC, or QR label.

The secure exchange of information between the two parts of this system allows customers to access information about each product’s supply chain. When shopping for medicines, fragrances, FMCGs, and skincare (especially online), learning about each product’s supply chain journey can give a user the information needed to make a safe and informed choice.

Retailers should consider building loyalty by providing transparency. And they can do so by investing in customized supply chain tracking solutions, such as the ones designed by the product authentication experts at Authena.

Using Blockchain Technology To Simplify Supply Chain Traceability

Using Blockchain Technology To Simplify Supply Chain Traceability

Emerging technologies are playing a key role in helping manufacturers and end-users improve the visibility and tracking of the global supply chain.

In particular, blockchain supply chain solutions allow for each transaction to be recorded securely and immutably. In turn, this limits the chances of forgery and diversion attempts by bad actors across the supply chain.

Here’s why blockchain supply chain solutions are so revolutionary in the field of real-time product traceability.

How Does Blockchain Technology Relate to Supply Chain Management and Traceability?

Blockchain TechnologyTo understand the role that blockchain plays in making the global supply chain safer and more efficient, it is important to understand the unique features of this digital ledger.

Blockchain technologies – which are better-known to be the technology underlying cryptocurrencies like Bitcoin – are so revolutionary because they allow for each transaction and product handoff to be recorded in real-time, securely, and immutably.

This means that, once a transaction happens, a digital record is created, which cannot be tampered with, modified, or erased.

In turn, when manufacturers use blockchain technology, they can access the record of transactions and check each step of a product’s journey from the supplier, through the supply chain, and to the end-user.

How Does Traceability Based on Blockchain Technology Differ From Standard Information Systems?

Unlike other information systems, blockchain technologies – when paired with smart packaging solutions and connected devices – allow both manufacturers and end-users to visualize the entire journey of a product through the supply chain.

Unlike with other labels and information systems, users extracting information from the blockchain can be sure that each piece of data is authentic. In turn, this can offer unparalleled transparency and help brands build loyalty and reputation.

End-to-End Tracking Each Product Through the Supply Chain with Authena L1VE™

When looking to secure and optimize your entire supply chain, it is essential to partner with an expert company that can help you avoid unnecessary costs and maximize your investment. Thanks to the solutions provided by Authena L1VE™, all you could do on the most powerful IoT platforms for cargo monitoring, now it is possible at the individual product level.

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