Deploying traceability solutions and authenticating counterfeit products in supply chain 

By OEM Update Editorial March 30, 2022 2:03 pm IST

MSRvantage is committed to offer the most advanced comprehensive solutions related to traceability by deploying AI enabled blockchain technology, with an overall objective to eliminate counterfeiting.

In the evolving world of ever growing complex supply chains and massive logistics networks, the demand for improved product visibility and source-to-store traceability has never been higher. 

Thousands of product manufacturers, brands and retailers operate trade networks that integrate hundreds of suppliers, logistics providers and distribution channels with physical footprints spanning across the globe. In addition to the dominant spread of diversified stakeholders, data flow suffers constant communication issues between them, which is largely due to outdated digital strategies and complex, conventional systems and processes. These systems assimilate a wide range of data, creating more confusion than amongst the stakeholders. 

While legacy systems evolve and serialized systems like QR codes and RFID etc are adopted, the retail and manufacturing industry as a whole generates exponential amounts of dataTraceability and sustainability challenges.

 The biggest myth in traceability is that organizations always believe traceability is all about tracking a product from its inception towards the journey towards the customer. However, the facts of traceability always come out when the sustainable solution is quite appropriate. Firstly, the solution is designed to provide visibility on the inputs and the processes across the value chain. Secondly, the key objective is to provide the source information for prominence and sustainability. 

Due to increasing product quality concerns, process challenges in complex Supply chain networks and safety awareness in recent years, the traceability solutions market has been increasing in significance and spreading into a wide range of fields such as manufacturing, automotive, retail, pharmaceutical, logistics, etc. The global traceability solutions market is projected to reach $7.3 Billion by 2026 as per. Blockchain-enabled traceability solutions can go up to the extent where they can enhance the brand value and keep the brand reputation intact by detecting counterfeits and fraud. 

These solutions are designed to empower the end customer by giving them a detailed overview of the product’s origin and journey. Traceability solutions help manufacturers monitor “to where the products are being delivered” while the companies and end-customers can understand “where the products in their hands have come from” This brings credibility factor on the brand instilling brand trust. 

AI enabled block chain solutions handle tempering 

Blockchain is the new buzzword which the entire industry is quite familiar with. Besides cryptocurrency and Bitcoin etc, Blockchain technologies can be significantly leveraged in many Industry applications. Supply chain is certainly one among them. Large OEMs would require resilient global supply chain models focussing on tracking and tracing thousands of consignments in real time. 

MSRvantage’s Traceability solutions can capture all the important aspects of a product right from its raw material description and manufacturing to consumers. This allows comprehensive visibility of all consignments, mitigates fraud, ensures product safety, aids in efficient supply chain analytics and increases customer engagement and trust. 

The products & services offered by MSRvantage offers comprehensive solutions for all the major challenges faced by industries today, including control of unprecedented operational costs, transaction speed, efficiency, security, and transparency across the supply chain, and growth rate. Their AI-enabled blockchain solution distinguishes itself by delivering immutability, transparency, digital freedom, better security, and improved efficiency across different industries. It provides industries with unparalleled time-to-market, compliance, and advanced scalability standards. 

MSRvantage comes with many special attributes that make it incomparable. It increases transparency throughout the supply chain and fosters trusts among all the parties involved in a transaction through its advanced technological solutions. It offers an easy-to-follow trace of products that cannot be altered, making it reliable for all stakeholders. It also increases the ability to trace potential sources of contamination, making it easier to trace its source and hence preventing and controlling counterfeiting. MSRvantage also ushers in a smart future through blockchain smart contracts. By enhancing transparency, security and efficiency while also reducing administrative costs, MSRvantage makes it easy for companies to maintain the trust of their customers, making it an attractive option across industries, including logistics, agriculture, BFSI, pharmaceuticals, manufacturing etc. 

Discover more solutions on Blockchain & Traceability at www.msrvantage.com