Introducing TrackX Keychain™: Empowering Enterprises to Run More Efficient and Sustainable Supply Chains

Blog Articles | June 22, 2021

Supply chains are changing dramatically, and the pace is accelerating. They must produce faster, with higher quality, and be more resilient, all while lowering costs. To help companies succeed, we are launching TrackX Keychain™ the next generation in tracing, tracking and collaboration solutions designed to help companies drive supply chain efficiency and sustainability.

This post will introduce you to Keychain. We will discuss four major trends that are pressuring today’s supply chain and how market leaders are responding. We will also provide five core areas on which to focus first for immediate impact.

Today’s Supply Chain Environment

The pandemic has exposed four forces driving supply chain operational change. These are summarized in Exhibit 1.

Exhibit 1: Four Forces Impacting Today’s Supply Chains

TrackX Graphic 1

The New Networked Supply Chain

Motivated by these changes, old-style, linear supply chains are evolving into more modern Networked Supply Chains. Networked Supply Chains depend on greater collaboration, communication, and data transparency as described in Exhibit 2.

Exhibit 2: The TrackX Networked Supply Chains v Traditional Supply Chains

TrackX Graphic 2

This change may seem daunting. It can be a multi-year investment in time and investment to realize the full potential, and it is highly dependent on equal effort from your suppliers and customers. However, you can lay the right foundation now.  Here is where to start.

Enabling Networked Supply Chains with the “5-C’s”

Based on our work with dozens of manufacturers across multiple industries, we have found that the most successful transformations start with the 5C’s:

  1. Respond to Consumer Demand for sustainable products.  Consumers want proof of origin, chain of custody and authenticity. Non-transparent, and non-sustainable brands underperform peers by 6% (McKinsey). Enhanced transparency will put a whole new set of demands on the supply chain.
  2. Compliance Reporting for regulatory mandates and sustainability claims.   Supply chains must collect data, audit operations and report on activities for everything from new SEC reporting requirements to increasing government regulations. Automation and verification are critical to keeping down costs.
  3. Collaboration across the entire supply chain ecosystem. As noted above, collaboration increases resiliency and responsiveness.
  4. Most companies are awash in data, collected and housed in various systems.  Control tower analytics, or a centralized analytic platform that aggregates supply chain data in one place will give managers much greater control over operations.
  5. Comprehensive Visibility throughout the Supply Chain Network comes when partner data is verifiable, secure, and complete.  You will get the most out of control tower analytics when all parties are working off a shared system of record.

Leaders must invest in enabling technologies that allow them to digitize their supply chain, automate data collection, verification and analyses, and that facilitate easy active collaboration with their ecosystem partners.

Introducing TrackX 2.0

Today we are launching TrackX 2.0.  Our mission is to be the premier provider of enterprise tracing, tracking and collaboration solutions that customers trust as the foundation of their sustainable, resilient and efficient supply chains.

Over the past 10 years, TrackX has built its reputation as the leader in supply chain asset management solutions, using IoT, RFID, mobile and other technologies. Over time we have added new capabilities, such as predictive analytics, machine learning and blockchain integration.

In the coming months, TrackX will be expanding our current platform capabilities with purpose-built solutions, including:

All of these capabilities will be based on Keychain, our highly configurable, scalable, partner friendly cloud-based platform.  We bring together the hardware, software and services to deliver the next era of supply chain visibility, transparency and trust .

Conclusion

TrackX has helped dozens of leading companies successfully digitize their supply chains. We will continue our laser-like focus on delivering highly configurable, scalable, partner friendly cloud-based solutions that improve clients’ supply chain processes and grow their business.  We are growing our capabilities, so we are prepared to help companies adopt the technologies and process automation necessary to efficiently, flexibly respond to supply chain disruptions.  Finally, we will enable clients to proactively meet increased consumer demand for transparency around product quality, origin, sustainable and other ESG practices.

About TrackX

TrackX, Inc. (TSX.V: TKX), based in Denver, Colorado, is the SaaS-based enterprise tracing, tracking & collaboration solution that leading brands trust to achieve more sustainable and better performing supply chains. TrackX solutions are built on an enterprise scalable and fully customizable platform that leverages a broad array of RFID, IoT (Internet of Things) and Sensor Technologies to provide item level visibility to customers across a broad array of industries, including food, beverage, brewery, automotive, retail, financial services, technology and government. For more information, visit the new www.trackx.com.

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