A Supply Chain Verification System to Build Trust
07 Dec 2022
The complexities in today’s Supply Chain Management (SCM) systems reveal huge gaps in product traceability, resulting in inefficiencies as well as counterfeit products.
VeriDoc Global has developed a supply chain verification system that offers transparency and integrity to supply chains. This system enhances the trust between stakeholders by leveraging the immutability of the blockchain.
BUILD TRACEABILITY: Reducing Risk By Creating Visibility In The Supply Chain
VeriDoc Global helps organisations to trace the source of a product by utilising QR codes that are linked to information such as SKU, batch number, warranty, registration details and product specification. This information as well as product movements are encrypted and stored securely on the blockchain. The QR codes allow stakeholders to verify the product information and supply chain events including location details and timestamps. This assists in the tracking and tracing of products.
ENHANCE TRANSPARENCY: Identifying Leaks In The Distribution Network
VeriDoc Global’s system verifies each step in the supply chain with a “digital handshake” that records exactly when and where products have moved in the distribution network. Each movement from manufacturer to wholesaler to retailer can be recorded using a single QR code and placed on tamper-proof ledger.
This makes it clear who is liable for products in every step of the production and transit, offering transparency and quickly identifying inefficiencies along the way.
BUILD RESILIENCE: Generating Reports And Insights
VeriDoc Global provides data analytics reporting powered by Google Analytics as well as VeriDoc Global’s proprietary software. VeriDoc Analytics offers insights into details like the number of QR code scans, source and transit details. Traceable source of origin is becoming one of the key factors in the supply chain industry as well as the identification and prevention of counterfeits.
VeriDoc Global’s anticounterfeit solution can detect counterfeits by flagging the system if the same QR code is being scanned in many different places at the same time. In this situation, the manufacturer or retailer can disable the compromised QR code, which voids the counterfeit products. This data can also be used to track where counterfeit products are originating from and where they are being sold to.
Proof of Concept
Imagine buying these at a shop. How could you verify this product?
How to verify the popcorn?
By using any mobile based QR code reading app, scan the VeriDoc Global secured QR code on the food packaging to begin a blockchain verification check.
On successfully passing the technology check, a results page will appear and show you the product details.
Additionally here is the results page that would appear after scanning the QR code on the popocorn above https://veridocglobal.com/Verify/MainNet/fc69c3dd-f1dc-454a-bcc1-4836480b1f98
Food (Track and Trace) Explanation Video
Watch this video for more information: https://www.youtube.com/watch?v=rSTdU5clorc
If you are interested in this solution or think you could use this verification system for something else, we would be happy to have a chat with you.
This was first posted on Medium.