Where Will Track & Trace Go Next?
The use of Track & Trace in the pharmaceutical industry has been a continuously growing trend for years now, but pharmaceuticals are far from the only things which can benefit from serialization. This is not actually news to those with an interest in the technology involved, of course – serialization has played a role in logistics world for far longer than it has played a role in the pharmaceutical world, after all. Knowing that, it is not a massive surprise to discover other industries are actively interested in traceability as well.
What drives this interest? Well, a variety of things, but perhaps one of the larger concerns has to do with the grey market and piracy. The rise of online storefronts has made it easier than ever for enterprising individuals to easily sell off items of questionable providence, allowing products that have fallen off the truck, so to speak, to be distributed with a minimum of fuss. Online stores also make it easy to distribute products that seem, at first glance, to be legitimate. This is only one part of a larger organism, of course, and there are more than enough physical locations which are also content to sell less-than-legitimate goods.
There’s more at stake than a loss of revenue, of course. Consumers are seldom aware of the history of a product they purchase, and if the counterfeit is good enough, they may never be aware. That means when the counterfeit product breaks or ends up being poor quality, the consumer loses confidence in the brand. This causes damage beyond a lost profit, it tarnishes brand reputation.
Track & Trace technology can help to quickly verify the authenticity of a product, and gives manufacturers a way to spot vulnerabilities in the supply chain. With those advantages, it is hardly shocking to hear that more industries are looking into the use of Track & Trace to bring these features into their own industries.
At any rate, that was our own supposition. We decided that the best way to find out what other industries thought about Track & Trace would be to ask them ourselves. To that end, we launched a study in 2016 with the goal of conducting in-person interviews with various manufacturers across the globe involved in agriculture, chemicals, food, consumer goods, and packaging. These interview responses were compiled into a study which is now available as a free download for you to look through. We discuss the results of the survey in detail and take a look at the specific ways that serialization can help combat band and product piracy among other things.Leave a reply →