Trend 4: End to End Traceability is More Critical Than Ever

End-to-end traceability is more critical than ever in today's complex and interconnected business environment. It not only helps organizations meet regulatory requirements but also contributes to operational efficiency, risk mitigation, and the building of trust with both businesses and consumers. As technology continues to advance, the implementation of robust traceability systems in the supply chain will become even more integral to the success of organizations. Without a cohesive view of the supply chain, errors like undeclared allergens, mislabeling, and inaccurate packaging graphics continue to be leading causes of launch delays, customer dissatisfaction, and product recalls. These issues result in fines and penalties, costing manufacturers millions of dollars in lost sales and damage to brand trust. To help identify and mitigate potential pitfalls, using cloud-based technology ensures full traceability for all parties, providing a clear and auditable record of the entire production and supply chain process.

...said global traceability is a priority for their business

Heightened consumer expectations

In recent years, consumers have heightened expectations for the supply chain, seeking speedy product delivery and demanding transparency regarding the origin and details of their purchases. Organizations are continually reviewing how they can meet and improve these expectations and demonstrate accountability. With the increased requirement for ‘delivery to your doorstep’, more suppliers and third parties must integrate with each other to meet demand. This adds additional complexity to the supply chain. Labeling and packaging are pivotal components in global supply chains and are interwoven throughout – the capability to standardize and centralize with a configurable Enterprise Labeling solution is therefore key. By allowing access to cloud-based solutions, regional manufacturers, distribution centers, and third parties can demonstrate full traceability and provide organizations with brand consistency, and a reduction in errors, while also avoiding relabeling.

...reported that they think global traceability will increase in importance within the next three years

Faster reaction in managing recalls

The brand damage generated by recalls (and the mishandling of them) can be extensive. Not only does it affect a company's reputation, but it can also change its financial profile and hinder its performance in the market. It can take organizations years to recover their brand integrity. Specifically in regulated industries, the stakes are high, involving not just products but human life. The ability to quickly identify issues and manage recalls can make an enormous difference. And so, in the supply chain, we know it’s not about the label, but the data that lies beneath. Collaboration and digital transformation of processes are key to elevating traceability. Cloud-based solutions enable faster and more efficient ways to identify products for recall and the speediest way to pinpoint and retrieve where they are in the supply chain. In turn, this will minimize errors, ensure compliance, reduce financial implications, remove other knock-on financial implications, and help to ensure consumer safety.

...believe the biggest risk associated with not being able to track products through global supply chain is inability to effectively manage recalls

Avoiding counterfeiting and diversion

Traceability and anti-counterfeiting are important models in supply chain management and product authentication. These concepts are closely related and are critical in various industries, especially when it comes to ensuring the authenticity and integrity of products throughout their lifecycle. Although counterfeiting and the diversion of products stretch across most industries, regulated products such as pharmaceuticals, chemicals, and food have serious implications for consumers. Dropping the gavel on counterfeit products is a priority for organizations for multiple reasons including preventing danger to end users, loss of brand reputation, and lost revenue. Traceability in the supply chain, through labeling, packaging, and beyond, supports anti-counterfeiting. And, by implementing secure labeling methods, you can deter counterfeiters from replicating product labels and packaging.