Track and trace is an innovative solution specially designed for pharmaceuticals that let you identify any product’s present and past locations throughout the supply chain. Although it was widely adopted in the pharma industry, nowadays, a variety of other industries are using this method to know the whereabouts of their goods. It’s a powerful implementation that no pharma company can go without; even other lifecare products brands are also trying it out. The process utilizes highly advanced track and trace tools and keeps vital records of the supply chain data.
At LetsVeriFy, we have been successfully doing track and trace for pharmaceuticals and various other companies for over a decade, making us the industry leader. Our rich cross-industrial experience and a team of skilled professionals will speak with you to understand your business model and then implement a comprehensive track-and-trace solution that is affordable, completely customizable, and highly scalable to your business needs. So let us have a look at the advantages of these track-and-trace solutions.
What are the Benefits of Using a Track and Trace Solution?
Here we have jotted down the advantages of track and trace solutions and know why you should incorporate one within your system.
Boost The Trust Factor
The most important factor of a business is to boost trust among its customers; gaining the consumer’s trust will help you flourish by getting repetitive orders.
Tracking and tracing keep your channel partners and customers informed about the status of their ordered products throughout the supply chain. Also, it builds trust between the customer and service provider as the solution provides transparency.
Reduction Of Cost
Track and trace technology is getting more advanced and thus can efficiently regulate the cost associated with consignment transport. In addition, the advanced GPS-based application will enable you to find the shortest route for product delivery, thus reducing the overall transport cost.
Enhanced Inventory Management
With this innovative solution, you will always stay informed about your inventory throughout the supply chain, improving your inventory management and planning.
Provides Better Security
Loss of a product can not only cause you to lose revenue and hassle and significantly impact your reputation. In addition, you may lose essential clients for failing to provide proper protection to the ordered goods. Track and trace technology provides every minute detail and sends instant notifications when some issues are there at any point of delivery so that you can take prompt action.
Identification of Bottlenecks in the Supply Chain
Track and trace in any industry also help you pinpoint supply chain blockages. Using a developed track-and-trace solution enables you to comprehend why things are consuming too much time so that you can take necessary actions. Similarly, if a particular logistics point takes hours to process the goods for shipment, you can communicate to make things easier and quicker.
Real-Time Information About Delivery Status
Sometimes it becomes challenging to determine the location and status of the consignment; as a result, they get deprived of real-time details about the shipment, such as:
- The present site of the shipment
- The estimated delivery time
- Are goods kept in exact condition?
- Is the shipment delivered to the customer without any damage?
- Is it being received successfully?
- Are there any missing products?
- Is there any delay in the shipment?
With the help of track and trace in logistics, all these questions can be quickly answered, and it will maintain transparency among the customers and delivery partners.
Why Invest in a Track & Trace Solution Today?
It is crucial to know the status of your shipment in every part of the supply chain in today’s world as several crimes like theft of premium goods are rising. With this advanced solution, you and your consumers will stay informed about the order’s status, and transparency will be maintained. This will help you to gain more trust from your customers.
How to Implement a Track & Trace Solution for Your Business?
Implementing the track-and-trace solutions should be done with the help of an expert like us, as certain factors need to be considered before the implementation. And an expert can understand the requirement and business needs and offer a solution that is ideal for you.