Tracesci Global, an authentication and track and trace solutions provider, showcased its end-to-end track and trace solution that aims to improve product and package security at the CPHI & PMEC show, held in Greater Noida from 26-28 November 2024.
Tracesci’s solution, powered by blockchain authentication, is a SaaS platform providing brand owners deep consumer and supply chain insights regarding their products such as real-time GPS location, and scanning suspicious activity alerts. The application enhances consumer engagement and awareness about brand security, the company says.
According to Kunal Kothari, GM of software and applications at Tracesci Global, consumers can connect directly with the manufacturer with the cloud-based platform delivering authentication, traceability, and supply-chain management. The company’s solutions are frequently used in the pharma, FMCG, apparel, automobile, and beverage industries, and among several startups.
Kothari emphasized the critical role of technology in tackling counterfeit products in the pharma industry. “Counterfeit products damage brand reputation and are a serious threat to health. Our mission is to safeguard brands and protect them from counterfeit or substandard products. The counterfeit market can never be eliminated, as it can occur at various stages — supply chain transfers, product handling, or at the retailer’s end. However, modern technologies have empowered brands and consumers to tackle this problem more effectively.”
During the interaction, he discussed Tracesci’s data analysis technology. Kothari explained how the transition from traditional methods to technology-driven data collection is transforming businesses. “Startups and growing companies rely heavily on technology-driven data to gain critical consumer insights. This, in turn, helps them analyze product performance and focus on sales strategies rather than data collection efforts,” he adds.
“The industry is looking toward value addition in its packaging and labeling. Enhancing brand security and providing transparency to the consumer is becoming more and more significant. Connecting with consumers and receiving direct feedback from them makes things easier for brands. However, brands are hesitant to adopt new technologies, which could either be due to the cost factor or their traditional ecosystem. But I feel the majority of them will eventually incorporate more digital track and trace systems,” Kothari concludes.
