Solutions for Retail
Retailers all over the world are using blockchain technology in their supply chains to verify the origin and traceability of goods.
Because they allow companies to map the complete life cycle of a product in real time, iDefendo’s blockchain-based solutions are extremely useful in solving many problems of retail businesses. From manufacture to the end consumer, every time a product changes hands the details of the transaction are documented and logged in the blockchain database, making it an important tool in dealing with supply chains and inventory management.
Every step in the supply chain can be traced, both upstream and downstream, which speeds up the administrative process, improves predictability, and gives all involved parties and stakeholders the details they require. Since entries of data in the blockchain are immutable and time-stamped, they create a clear record of product provenance and history, verifying the authenticity and safety of products.
Access to a more complete dataset will lead to improved practices that drive efficiency around orders and inventory, which will help companies detect changing trends and adjust supply to demand. Companies with a supply chain that is visible in real time can better control their market. Knowing where an item is at any given time also reduces the chance of theft or other property loss.
By providing reliable and immutable evidence, our solutions are building trust and transparency that leads to increased customer loyalty and allow companies to engage with consumers far beyond the point of sale. Transparency ensures that everyone in the value chain has trust and confidence in the goods and services being delivered – powerful tools in the fight against counterfeit products and unethical suppliers.
Luxury brand LVMH (owner of the iconic Christian Dior, Givenchy, and Louis Vuitton labels), Volvo, and Ralph Lauren are all preparing to launch blockchain solutions into their supply chains to fight counterfeiting, provide proof of origin, display increased transparency, and enhance ethical manufacturing.
Source: Engadget www.engadget.com/amp/2019/11/06/volvo-blockchain-traceability-cobalt-batteries
Source: Ralph Lauren corporate.ralphlauren.com/pr_191101_DigitalProductID.html
Source: Vogue www.vogue.co.uk/article/lvmh-blockchain
By providing reliable and immutable evidence, iDefendo’s solutions are building trust and transparency that leads to increased customer loyalty and allows companies to engage with consumers far beyond the point of sale.