By Anubha Dixit
Supply chains can be considered as a blessing for the world. Especially, In today’s hyper connected global marketplace, supply chains can be considered as the lifeline that sustain the flow of goods and services. Yet, the intricacies of modern supply chains are accompanied by an array of risks – from unforeseen disruptions to regulatory challenges.
Supply chains today are no longer linear; they are complex, sprawling networks that span the globe. This complexity, while offering unprecedented opportunities, also exposes supply chains to vulnerabilities. Natural disasters, geopolitical shifts, and unexpected market changes can send shockwaves reverberating through the supply chain, disrupting operations and impacting customer satisfaction.
So, resilience in supply chain is very necessary. It is the capability to absorb shocks, adapt swiftly, and continue operations even in the face of disruption. Resilience is not merely about reacting to challenges; it’s about proactively anticipating potential disruptions and building the mechanisms to mitigate their impact. And in this endeavor, the interplay of “Track and Trace” technology and dynamic control plays a pivotal role.
Amidst this landscape of uncertainty, the fusion of two powerful concepts, “Track and Trace” technology and dynamic control, has emerged as a beacon of resilience and adaptability. Track and Trace” technology is akin to a digital thread woven throughout the supply chain. It involves the use of unique identifiers, such as barcodes, RFID tags, or QR codes, to monitor and record the movement of goods at each stage. This real-time visibility provides supply chain managers with a comprehensive view of their operations, from raw material sourcing to the final delivery.
The real power of “Track and Trace” technology lies in its ability to offer real-time visibility. This visibility enables supply chain managers to detect disruptions as they occur, rather than discovering them days or weeks later. Whether it’s a delay in shipment, a sudden shortage of materials, or a quality issue, immediate awareness empowers rapid response.
Track and trace technology also gather insights which helps in making real-time adjustments for any supply chain. These adjustments can range from rerouting shipments to reallocating resources or even altering production schedules allowing a dynamic control over the supply chain.
The real magic of dynamic control lies in its precision. Armed with real-time data from track and trace systems, supply chain managers can make decisions based on accurate, up-to-the-minute information. This precision minimizes the chances of overreacting to disruptions or underestimating their impact.
Track and trace technology is not just about operational efficiency; it’s also a potent weapon against counterfeiting. In industries plagued by counterfeit products, like pharmaceuticals or luxury goods, track and trace systems enable companies to authenticate products and identify any deviations from the legitimate supply chain.
While the potential benefits of track and trace technology in enhancing supply chain resilience are clear, there are challenges to overcome. Integration across diverse systems, data security concerns, and the need for industry-wide standards are some of the hurdles that need to be addressed.
The future, however, holds exciting possibilities. As the Internet of Things (IoT) continues to expand, track and trace systems could become even more sophisticated.
So, to conclude, we can say that, in an era where disruption is the norm, supply chain resilience is not a luxury; it’s a necessity. “Track and Trace” technology, coupled with dynamic control, forms a formidable arsenal in the pursuit of resilience. By offering real-time visibility, precision in decision-making, and a shield against counterfeits, these concepts empower supply chains to weather storms and emerge stronger.
As technology continues to evolve, the role of track and trace systems in building resilience will become even more pronounced. By embracing these innovations, businesses can turn the challenges of an unpredictable world into opportunities for growth and adaptability.
(The author is Ms. Anubha Dixit (Founder and CEO, Tongadive), and the views expressed in this article are her own)