How Smart Connected Supply Chain be the game changer of global commerce?
The world today is a massive digital network of companies and people connected to each other. Supply chains are more global and connected than ever before. This requires a new kind of supply chain management. One where the information flow is optimised to get clearer insights into your supply chain.
Supply chains are imperative to business operations, commercial activities, and global trade. They are getting bigger and more complex as time passes. Supply chain management is a big part of every business’ operations. As supply chains grow more complex, it is only natural for businesses to want a smart solution to manage them. A smart solution should simplify the process of managing your supply chain. It should add value to your business.
The supply chain solution from nVipani, valUchain, makes supply chains more transparent. Every unit in the chain is tracked and accounted for. Businesses have unparalleled visibility into the supply chain. valUchain uses blockchain, AI and IoT enable unprecedented levels of traceability and visibility to supply chain management. End-to-end traceability finds a new dimension with valUchain. Every product can tell its customer about the journey it took to reach the customer, from its basic raw materials to manufacturing processes it underwent and the places it went through. A customer can be certain of the genuineness of the products that were bought.
valUchain delivers precise inventory levels across the supply chain -warehouses, distributors and retailers. The increased visibility valUchain enables makes business decisions easier. Know exactly what’s happening when it happens, detect changes as they occur, act on it instantly to maximize gains. IoT and blockchain ensure that the data on valUchain is true and unsusceptible to tampering.
valUchain makes businesses smarter and enables them to be more efficient with smart insights provided by providing advanced analytics. It helps businesses optimise processes. valUchain is a novel, transformative solution that fundamentally changes the ease of doing business. valUchain aggregates information from a multitude of sources and makes it simple for businesses to make sense of this information.
valUchain enables something that was never possible. Existing supply chain management solutions are all cost prohibitive for small and medium enterprises. valUchain creates a more inclusive supply chain to enable a more transparent and traceable supply chain. We bring a solution that transforms the world of supply chain management forever. A new world where there is no place for counterfeits and pilferage will be nVipani’s contribution to society.
Imagine a world where businesses can trust each other implicitly and collaborate with each other like never before. valUchain enables trust with the help of blockchain and smart contracts. This makes it easier for businesses to collaborate. Retailers shelves are replenished without having to manually make an order for the products. Manufacturers get to know exactly which of its products are selling, when and where they are bought, enabling them to target their marketing and promotions better.
In a connected supply chain all parts of the chain talk to each other, share data, and collaborate to generate powerful insights. A connected supply chain is more robust as it can detect and counter disruptions sooner. With deep learning at its core, valUchain helps create a connected supply chain that learns and improves continuously. AI and ML help automate a huge set of supply chain decisions.
A smart-connected supply chain as envisioned by nVipani empowers the ecosystem to reach unprecedented levels of efficiency. valUchain can -with its clear vision and affordable pricetag- enable truly global supply chain management solution. Every stakeholder of the supply chain, however big or small can find something for them in valUchain. We create value for everyone that trades.
How Anti-counterfeiting can save lives?
Counterfeiting is the practice of manufacturing and/or distributing products that look similar to, but in most cases is inferior in quality to, a brand name or genuine product. In other words, it involves the manufacturing or distribution of goods under someone else's name without their permission. Counterfeiting is considered a crime globally. Counterfeits are usually made of lower quality raw materials and components than the genuine product in order to sell at a cheaper price to customers. These goods usually bear trademarks that are identical, forged, or that are almost identical so as to make it close to impossible to tell it from the original.
Counterfeiting is far from a victimless crime. It is dangerous and poses a health hazard to the consumers as well as the workers manufacturing these items. The use of cheap, substandard, and dangerous components put the health and safety of consumers at risk. Counterfeiters do not pay taxes. This means there is less money for your country’s schools, hospitals, and other social programs.
Counterfeiters do not adhere to fair labour practices or labour laws. In fact, counterfeiters often use forced or child labour, have poor working conditions, and do not pay their employees fair wages or benefits. Profits from counterfeit sales have been linked to funding organized crime, drug trafficking and even terrorist activity.
Legitimate manufacturers dedicate significant resources to research and development of products and strengthening a reputation for quality among consumers. Counterfeiters try to gain unfairly off of another company's goodwill. Lost sales and profits from this unfair competition translate directly into lower wages, lost jobs, and higher costs for consumers.
The global counterfeiting market is estimated to reach 1.82 trillion USD by 2020. The counterfeit market in India was estimated to be 40000 crore INR in the organised sector alone. The Indian counterfeit market is growing at over 40% per year.
Anti-counterfeiting solutions in the market today revolve around special packaging, holograms, RFID, and unique codes on the products. As much as these solutions help to reduce counterfeiting, a resourceful criminal can circumvent these obstacles. A counterfeiter that can create a counterfeit product can usually create the packaging or stickers as well.
How proactively can pilferage alerts control inventory theft?
Reduction in inventory caused by shoplifting, or petty thievery by the employees is generally referred to as pilferage. Pilferage is the theft of a few pieces or a small quantity of a relatively large shipment. A driver stealing a few apples from a truck or an employee or a shoplifter stealing a smartphone for sale at a store is not a huge hit on the bottom line of the company. At scale, these losses add up and cumulatively cause a significant hit to the profits. 90% of businesses are affected by pilferage. Businesses lost 7% of their annual revenues to theft and fraud in 2016.
Pilferage is an year round risk for supply chains. Employee theft and shoplifting accounts for almost 80% of inventory shrinkage. Inventory shrinkage is inevitable when you trade agricultural produce. There will be transportation losses, spoilage losses, grading losses, etc. These acceptable losses are taken advantage of in a lot of industries. Up to 50% of agricultural produce is lost to wastage in the supply chain in India. It is reasonable to believe that at least some of these losses are fraudulent. These losses are always borne by the end consumer.
Pilferage is one of the biggest challenges especially for retail businesses. The loss of goods means the loss of the busness’ money and damage to the bottom line. Pilferage is preventable to an extent. When your employees know that you use an ineffective system to track inventory, they have an opprtunity for theft. Not everyone is able to resist the temptation and under the right circumstances anyone can do it. This is why 75% of employees have stolen from their employers at least once. Effective inventory tracking can reduce this risk manyfold
It has been difficult for businesses to detect pilferage as it is difficult to spot missing inventory when just a few cases are taken from stacks of hundreds of cases. Unless there are visible signs of forced entry or tamper, pilferage usually isn’t even detected until after delivery is completed, or stock count is performed. Shipment and inventory tracking at a unit level make it easy to track pilferage.
The complete supply chain management solution from nVipani, valUchain, takes supply chain traceability to unprecedented levels. valUchain tracks each unit of inventory at all nodes in the supply chain and during transportation. This enables valUchain to have a comprehensive real-time view of the inventory. Inventory visibility in real-time enables businesses to detect and prevent pilferage. Smart Alerts by valUchain™ makes sure the user is alerted instantly in case of pilferage. Smart Cycle Counting enables businesses to optimise inventory tracking and reduce costs associated with keeping tabs of the inventory.
With the use of IoT and blockchain to ensure the infallibility of the information it holds, valUchain can ensure its users of the inventory they hold. AI and machine learning helps valUchain recognise and point out possible vulnerabilities in the supply chain. valUchain monitors inventory, measures stock discrepencies and controls pilferage. We have created a solution that can be used by even the small and medium businesses by making supply chain management affordable.
valUchain watches your inventory like a hawk and monitors discrepancies to dramatically reduce inventory pilferage. It works throughout the supply chain in storage and through transportation to detect and curb pilferage. The valUchain solution keeps businesses up to date on all volumes passing through the supply chain and enables detection of pilferage at all levels. valUchain is a cost effective solution to counter pilferage and fraud.