Get ready for quality audits.
Manufacturers can consolidate traceability data in one place and make it accessible and easy to understand. A company can share the information with suppliers, customers, and other third parties during a quality-audit process. This can help create a more collaborative environment within the organization, as well as externally with the stakeholders in both the downstream and upstream supply chain.
Be prepared for recalls.
Data can be quickly mined backward to find the lots, batches, intermediary products, or raw materials that are the cause of a problem. Tracing forward can find all the finished products in the supply chain that might be contaminated. All impacted customers can be identified, so they can be immediately contacted and instructed to remove the affected products from shelves.
Build a stronger supply chain network.
Including and actively collaborating with suppliers on creating supply chain transparency will benefit all supply chain participants, forming long-term relationships. For smaller farmers, implementation of technology can sometimes be challenging but at the same time can result in new business opportunities.
Create new revenue opportunities.
Traceability capabilities can be leveraged as a competitive advantage with new market-entry opportunities. Proof points on secure and responsible sourcing patterns of ingredients and raw materials can be supplied. Traceability capabilities can also be used as part of a company’s social responsibility initiatives to create transparency and trust.