Serialized QR Codes Improved Supply Chain Resilience During COVID-19
COVID-19 has impacted supply chains worldwide. Many halted operations have caused shortages or excesses of goods in warehouses. From a lack of goods such as PPE and toilet paper to an excess of non-essential goods in warehouses, the pandemic has proven a need to reinforce supply chain resilience.
For a supply chain to be resilient, it must be capable of resisting or recovering from disruption. Worldwide disasters like the pandemic can have a far-reaching, global impact on supply chain logistics, suppliers, and workforces. Supply chains need to be able to respond to operational disruptions quickly.
Consumer spending patterns are changing rapidly. This adds more problems to the already challenging forecasting process. A shortage of goods equates to unhappy customers, while an excess would mean spending unnecessary cash on storage. This is why enterprises need to adopt technologies and techniques that will fully digitize their end-to-end supply chain.
While there are different ways to digitize your supply chain, businesses have a straightforward solution that allows them to keep up with logistics and maintain transparency throughout their supply chain: Serialized QR Codes.
What are Serialized QR Codes?
Serialized QR Codes are labels that give any product or object a unique digital identity. Real Items takes these labels to another level by securing them on the blockchain. Real Items digital identities, also called Non-Fungible Tokens (NFTs), contain the necessary information to track products throughout the supply chain. These NFTs can be accessed by scanning the QR code on each product’s packaging.
Since Real Items’ product serialization is recorded on the blockchain, it is tamper-resistant. The technology combines unique features such as enabling alerts, messaging, authenticity, and verification all in one QR code. Because of the blockchain’s immutable nature, there is more accountability within the supply chain.
According to the Michigan State University’s categories of resilience-oriented investments, product serialization encompasses different types of investments for supply chain resilience.
With that, here are three ways Serialized QR Codes improve supply chain resilience:
1. Improve the quality of information flowing within the supply chain
Because all information in a Real Items QR code is backed by blockchain technology, there is transparency. Transparency breeds responsibility. When information within the supply chain is visible, people are more accountable and less likely to create mistakes.
Aside from accountability, transparency also opens the doors for effective communication as no information is siloed. Members of the supply chain benefit from the speed and quality of data in the system.
2. Protect the system from theft, damage, and counterfeiting
Counterfeits are one of the main problems that enterprises face. When there is no visibility within the supply chain, the system can be prone to theft or damage. To make matters worse, delays and problems can cause a downstream effect throughout the chain. Information stored in the Real Items QR codes is tamper-resistant and is time and date-stamped. Moreover, Real Items allows members of the supply chain to view a transaction’s entire history, eliminating any fraudulent opportunities.
3. Gain customer support and loyalty
The improved security and transparency created by Serialized QR codes provide compounding value for supply chains and benefit consumers. In addition, Real Items QR codes allow end consumers to verify the information and personally claim ownership of the product. This builds trust, which translates into customer loyalty.
Although customer loyalty is a form of indirect investment, it creates goodwill and support for companies—an advantage that enterprises definitely need over their competitors.
In a time when there is so much uncertainty, people should be able to check and verify authenticity. Real Items understands this need, so we have upgraded our product serialization to include the end consumers in the supply chain cycle.
Consumers can now verify the authenticity and access unique information by scanning the QR codes using their smartphones. The QR code leads to the Real Items app, which provides instant access to reliable customer service.
Investing in your supply chain resilience means more efficient operations, improved productivity, and reduced risks, ultimately leading to happier customers.
Your data is sensitive and crucial. In Real Items, we believe that security doesn’t have to be confusing. Our solution provides automation that is intuitive and easy to use. It’s time to get rid of all the paperwork and be ahead of the curve.
If you’d like to use Serialized QR Codes to protect your data with encryption and end-to-end digitization, book a free call with us HERE. We also invite you to join the conversation with other enterprise customers in our Discord.