Supply Chain Provenance & Transparency
Consider this, your supply chain could provide your brand untapped marketing potential. Branding your supply chain so that customers understand your unique product journey means more than internal measurement. If you don’t understand who is involved in producing your products then our YTao Platform can simply help identify all key stakeholders and validate compliance including:
- Modern Slavery
- Production certification
- Organic production
- Child Labour
- Human Trafficking
- Criminal activity
Using your supply chain as part of your overall brand story can inspire loyalty and secure more customers.
The strategic value of supply chain transparency is also a critical consideration. Directors, Shareholders, Investors, Suppliers and other parties are required to play a more active role. When supply chain transparency is implemented at a strategic level, it provides a organisation wide impact. Governance remains a necessary element too, suppliers have varied degrees of compliance and as a result there are different standards of production and product quality.
Transparency enables better communication that can enhance both standards and quality. In addition human rights, labour rights, working conditions, environmental impact and overall sustainability are brought into light.
The harsh reality is that failure to validate your supply chain simply is a risk that your business can’t take…
- Automatically validate your Supply Chain
- Use your supply chain to enhance your brand story
- Reduce corporate risk through validated compliance and increase product standards
IoT Asset Traceability
Around 8.3 billion devices are already connected to the Internet of Things (IoT), from the Fitbits on our wrists and the wifi in our cars to home-monitoring systems like Nest and heating/lighting systems. According to an estimate by Gartner, there are likely to be 20.4 billion connected ‘things’ by 2020.
YTao Global sees a future where almost anything becomes traceable, leveraging advanced technologies such as Blockchain (Distributed Ledger) we are able to significantly scale how to digitally attribute product a product lifecycle.
Machine-to-machine communication is already widely used in the manufacturing sector, but has historically been used to track machinery operations (Industry 4.0). The next generation of IoT in manufacturing will be to activate individual products for ultimate provenance and production traceability.
IoT also dramatically helps businesses leverage insights from big data. Where it has been hard to handle such data without the right automated processes in place, IoT enabled organisations are able to intelligently and analyse product data and distribution in real time.
IoT also enables the ability to trace a product lifecycle, connect it to raw material batch production and even end of life processing.
- Digital tracking of produced goods
- Product distribution traceability
- Provenance from raw materials to end-of-life
Consumers are looking for ways to understand the full lifecycle of products that we consume. From rainforest to landfill, a brand needs to understand and contribute towards responsible production and disposal of product packaging.
The YTao Platform helps to trace this entire lifecycle so that every product that is produced can form a greater role within a circular economy.
Did you know that over 30% of landfill is made up from soft plastics that are difficult to seperate for recycling? Every wrapper that you have ever thrown in the bin still exists today.
End-of-life extends beyond recycling and it begins with producers investing in ways to offset waste production – so that less ends up in landfill.
- Trace and measure end of life products and packaging
- Educate consumers on what your brand is doing to reduce landfill
- Offset plastic production / packaging
Modern slavery refers to “any situation of exploitation where a person cannot refuse or leave work because of threats, violence, coercion, abuse of power or deception.” This includes: slavery, servitude, the worst forms of child labour, forced labour, human trafficking, debt bondage, slavery like practices, forced marriage and deceptive recruiting for labour or services.
Every corporation has a responsibility to ensure that all production contributors, internal workforce and all stakeholders comply with international slavery regulations. Unfortunately, legal compliance is only enforced for businesses with an aggregate turnover exceeding $100M, but this does not mean that every business should ensure compliance.
The YTao Platform includes the ability to validate your supply chain stakeholders at a glance so that you are able to identify and take steps to eradicate modern slavery from your supply chain.
- Automated digital audit of all supply chain stakeholders
- Identify modern slavery practises in your supply chain
- Pro-actively take steps to eradicate modern slavery in businesses under $100M
Power to the Consumer
Consumers demand transparency.
A global survey conducted in 2018 reflected this statement with 80% of the 30,000 people interviewed confirming that purchase behaviour would be positively influenced if there was a degree of transparency into the supply chain of the brands they support.
True supply chain transparency entails both visibility and traceability, not only on the brand or product level but also at supplier, raw material production and most importantly who helped to manufacture the product.
Consumers want to know where products are made, to know the environmental impact that product has on our planet and that purchasing this product will positively influence the quality of life of the people who made it.
In addition, it is also important that consumers understand what brands are doing to ensure that end-of-life processes contribute to a positive future. (What happens to that plastic wrapper? Hint: every piece of plastic gone to landfill for the past 300 years still exists today…)
- 80% of consumers will more likely purchase products with transparency over others
- Consumers drive the global economy and want to guarantee a bright future for humanity and our planet
- End-of-life responsibility, and traceability, is equally important as production