Reality Strengthened by Traceability: Sustainability
Is sustainability just a buzzword?
Sustainability was a term that was initially unfamiliar to some, but it has always been in our lives. Later, with the United Nations revealing the Sustainable Development Goals, its place in our lives increased and it became a must for every industry to get sustainable outputs.
According to the United Nations, the 2020 World Population Data Sheet shows that the world population is expected to increase from 7.8 billion in 2020 to 9.9 billion by 2050. In addition “With rapid population growth and urbanization, annual waste generation is expected to increase by 70% from 2016 levels to 3.40 billion tonnes in 2050.” This is only a small fraction of the dark foreseeings society has about the future.
Furthermore, more aware customers are seeking more transparency in the global supply chain, forcing manufacturers to be more transparent about content, sourcing, production, and transportation methods. Brands must now, more than ever, provide complete traceability to appease consumers’ concerns about their health, the environment, worker well-being, and animal welfare. Without validated data to back up their marketing claims, organizations risk losing customer confidence and loyalty, facing public relations and regulatory compliance problems, and eventually seeing significant revenue declines.
The importance of traceability in terms of sustainability derives from the credibility of the data generated by a traceable system. These are particularly essential as supply chains become more complicated, with practically all items requiring the collaboration of numerous enterprises to complete the transformation of raw materials into finished goods.
Traceability allows businesses to regulate their product’s carbon footprint, validate the legitimacy of a product and its components at each stage of the supply chain, and track conditions to prevent product damage, diversion, and waste, among other things.
- Optimize resources
- Combat against counterfeit
- Minimize waste and environmental impact
- Have confidence in the statements they make to the market
- Provide customers with access to accurate information as to products’ origin and authenticity
- Provide supply chain visibility(transparency)
- Build customer trust and brand loyalty
When a product is contaminated, tampered with, damaged, or determined unsafe, recalls are unavoidable. The process is improved through traceability. We can determine the location of products using serialized items and data reporting, and retrieve only problematic products rather than the whole batch. This helps to prevent monetary losses while also making recall management easier and faster. Acting more sustainably by implementing tools to track and trace goods within supply chains eliminates this risk.
Counterfeit pharmaceuticals, faulty medical devices, expired foods, and unsustainable sourcing practices endanger public health, waste valuable natural resources, undermine consumer confidence, and damage brand reputation.
On pharmaceutical products, traceability gives potentially life-saving information such as quick alerts of any non-conformities, status confirmation and expiry date, counterfeiting alarms, and more. It also ensures efficient waste management and streamlines workflow, allowing employees to devote more time to patient care.
VISIOTT TPS, a worldwide provider in traceability, is the company that can provide real end-to-end sustainable traceability solutions that are accessible and can be completely integrated into existing supply chains.