The Benefits of Using Food Traceability Software and Why Businesses Should Consider It

As consumer demand continues to increase, the food and beverage sector is grappling with unprecedented global demand. While manufacturing processes have improved thanks to the introduction of AI and automation, the international food supply chain and distribution systems face new risks and challenges.

Introducing food traceability software within your food and beverage manufacturing or distribution company can help you limit the risk of counterfeiting, protect your reputation, increase efficiency, prevent recalls and scandals, and deliver essential data about your products and consumers. 

Unsure whether this investment is the right one for your company? In the guide below, you’ll find the essential benefits worth knowing about - or you can learn more about food traceability software in this guide: https://authena.io/food-traceability/

Efficiently Fighting Counterfeiting and Fake Goods

According to recent reports by EUIPO, the share of trade of counterfeit and pirated goods has been growing significantly and consistently since 2013. What’s more, the rise of eCommerce and the shift in consumer behavior that took place over the past years have caused a spike in the volume of fake goods in circulation. 

However, by introducing food traceability software, manufacturers can track their products more efficiently, and notice if goods are diverted into unexpected markets, or if they are illicitly opened or refilled. 

Safeguarding Public Health and Preventing Costly Recalls

Food traceability software, integrated with ad-hoc IoT devices applied at single unit level, can be used to identify illegal activity refills and issues with the product itself. In turn, this can prevent the damages related to public health scandals and recalls, which, when mismanaged, can cost a business upwards of $10 million and be catastrophic for its reputation. 

Providing Proof of Origin and Authenticity

Food traceability software allows food manufacturing companies to track their products from the development phase to consumption. What’s more, by using technologies such as blockchain, these software solutions can record each product’s details and transactions and deliver real-time, accurate information to consumers. 

This can be a useful tool to guarantee the authenticity of a product, thus fighting the circulation of fake goods, improving customer trust, and supporting more conscious buying decisions. 

Boosting Operational Efficiency and Reducing Waste

Food traceability software can help your organization identify operational inefficiencies such as wasted energy or labor. In turn, this can help you reduce your manufacturing costs, reduce waste, and redirect precious resources toward other aspects of the supply chain. 

Food and beverage software coupled with smart packaging solutions can also help you gain insights such as food temperature, quality, and status.

Better Inventory and Supply Chain Visibility

Software solutions created specifically to cater to the needs of the food and beverage manufacturing system will incorporate essential inventory management features. These tools allow you to fulfill your orders faster, manage expiring products, and rotate your inventory as needed. 

By streamlining your orders and inventory, you can also make your business’s framework more agile and lightweight, which allows you to reduce the costs of storing food and beverages in large warehouses. 

Improved Accessibility to Accurate, Real-Time Data

Today, we live in the age of analytics, and it has never been more important for businesses to invest in solutions that allow them to collect, store, and share accurate and current data. Thanks to food traceability software, businesses can access an unprecedentedly large volume of data regarding multiple aspects of a product's journey from the manufacturer to the consumer. 

Some of the data available include:

• Product status
• Product temperature 
• Packaging quality
• Item geolocation
• Transaction information
• Progress 
• Market position

This data, when collected and made available to all authorized stakeholders, can lead to better, more data-driven business decisions. 

Better Customer Service and User Experience

Food traceability software is able to deliver critical information about a product’s status throughout the supply chain, which can lead to a better and more consistent user experience.

For example, according to new studies, technology-enhanced packaging solutions can monitor the temperature of packaged watermelon to deliver an optimal tasting experience to consumers. 

What’s more, the same software can provide new insights to manufacturers, such as where and when a product is purchased, opened, and consumed. This kind of information can help food manufacturers and producers create better and more suitable products for their audience, thus improving the consumer experience, loyalty, and satisfaction of a certain brand. 

Introducing Food Traceability Software in Your Business

Introducing food traceability software solutions might not be straightforward. Indeed, it might require an organization-wide effort to implement a seamless system throughout each phase of the supply chain. What’s more, this software should not affect the current user experience negatively. 

While striking the right balance is certainly important, the benefits of introducing such ad hoc software solutions outweigh the risks and challenges involved with the implementation phase. To streamline the process, make sure to partner with a product authentication expert such as Authena.

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This content contains sponsored advertising content and is for informational purposes only and not intended to be investing advice.