How Trace.ai Enhances Supply Chain Visibility
If you are a supplier catering to the food value chain, you know how difficult it is to deliver perishable goods to their ultimate destination in the right quality, quantity and condition, at the right time and place. And unfortunately, it’s not uncommon for goods to arrive at their destination damaged due to a deviation in temperature, or other mishap, during shipping.
According to a recent BCG report, every year, 1.6 billion tons of food worth about $1.2 trillion are lost or go to waste. That’s one-third of the food volume produced globally. It’s estimated that, by 2030, these numbers will hit 2.1 billion tons and $1.5 trillion annually.[1]
Contributing to the loss are violent truck hijackings, which account for 24% of cargo theft incidents globally, according to a 2018 Global Cargo Theft Intelligence and Advisory Report. The most targeted sector is food and beverage, accounting for 27% of all incidents.[2]
When incidents happen to goods in transit, food and beverage companies not only suffer monetary losses; they also risk losing customer trust. The good news is that supply chain infrastructure and efficiency alone could reduce the amount of annual food waste by $270 billion.1
The need for shipment condition, quality and ETA monitoring is clear – certainly in the food and beverage industry, but also in many others. And in fact, the ability to track and trace shipments across the supply chain is quickly becoming a customer demand, not merely a request. As global supply chains get bigger and more complex, customer expectations for timely deliveries and up-to-the-minute order status are on the rise.
What if you could know not only the location of your product during transit, but also the condition – things like temperature, humidity and breakage? Having this kind of crucial information at hand helps businesses respond immediately if conditions become subpar.
Is this really possible? Absolutely!
Transparency, traceability and embracing the power of IoT are key to attaining true end-to-end supply chain visibility. But just having visibility isn’t enough. Ultimately, the value comes from the ability to leverage visibility to quickly react and respond to problems as they arise.
That’s where Bristlecone’s Trace.ai comes in.
Trace.ai is an operational intelligence tool that empowers businesses to leverage 100% real-time visibility in their supply chain. Its features include:
How are Bristlecone customers achieving success with Trace.ai?
Trace.ai provides a leading US-based manufacturer of mattresses and bedding accessories with the ability to:
- Monitor real-time conditions like temperature, pressure, humidity and shock with the help of sensors. (How is my product?)
- Track their product. (Where is my product currently?)
- Track orders and returns. (How is the customer experience?)
For a global manufacturer of glass panels for the telecommunications industry, Trace.ai enables:
- 100% real-time visibility on product condition and location.
- Monitoring of product damage due to breakage and contamination.
In sum, Trace.ai
Intrigued? You too can unlock the hidden potential of your supply chain with Trace.ai. For more information, please reach out to us at labs@bcone.com.
[1] https://www.supplychaindive.com/news/food-waste-supply-chain-solutions/531509/
[2] https://safety4sea.com/report-the-impact-of-cargo-theft-on-global-supply-chains/
