If you are in the pharmaceutical, food and beverage; or consumer goods industry, then you know how badly getting product recalls can negatively affect your brand. It leads to lower stock ratings, reduced customer loyalty, and loss of revenue. Luckily, there is a way that you can avoid all these. The key is using product serialization.
Losing control of your supply chain should be the least of your worries when you undertake product serialization. There are many things you stand to benefit by using serialization for your manufacturing business.
One of the reasons why it is necessary to have product serialization is to track your products. Serialization will ensure that all products in the supply chain have a serial and batch number. It will be easier to trace the product from the production process until it reaches the customer.
It Helps Reduce Counterfeits
Nowadays, counterfeit products are the order of the day. However, techniques such as product serialization can help curb the penetration of such products into the market. Serial numbers allow easy tracking of products. In short, it leaves little or no room for counterfeiters.
Reduces the Overall Cost
The other reason why you should go for serialization is that it reduces the overall cost. The business processes in most industries are labor-intensive. Thus, the consumer ends up paying a lot for the products. Automating your supply chain process will reduce labor costs and help cut costs in the long run.
It Provides Visibility
It is difficult to substantiate products on different levels of the supply chain. It is especially true when dealing with a complex distribution process. When it comes to serialization, there has to be collaboration from the partners. In turn, this technique ensures that there’s accurate data management, recording, and tracking of products.
For more information on product serialization, do not hesitate to contact us today!