The ability to track and trace products is fundamental to sound supply chain management. Traceability affects supply chain efficiency, product safety and security, managing deep tier risks, on-time delivery performance, troubleshooting customer issues, controlling costs, and regulatory compliance.
Companies need to address the way they evaluate supply chain traceability to make the right investments, and to mitigate the risks of missing their sustainability goals and suffering reputational damage in the event of a supply chain failure. However, while these demands are increasing and are extremely dynamic, traceability technology is confusing and, in a number of respects, behind the curve.