The Tracesci features high-level authentication and tracking which enables both brand owners and consumers to grab on counterfeiting more effectively. It is a SaaS platform powered by blockchain that provides brand owners, deep consumers, and supply chain insights regarding their products like real-time GPS location, scanning pattern, and suspicious activity alerts.

“It will help to get actionable product data for strategic decision-making and operational excellence,” Kothari said.

The Tracesci can be adapted on a free trial and can be upgraded to the next levels based on requirements. Both IOS and Android mobile applications are available for effective live tracking, authentication, and supply chain management.

Easy penetration of counterfeiters in the supply chain puts global consumers in a dilemma to make a choice between genuine and counterfeit products. Counterfeiting and leakage in the supply chain is a big issue across various consumer-based industries like FMCG, heathcare, pharma, life sciences, electronics, etc, which not only affect consumers’ pockets adversely but are a major threat to their health as well.

In absence of a strong supply chain monitoring, any pandemic situation allows counterfeiters to penetrate and disrupt the market drastically which results in huge revenue losses, the reputation of brands along with consumers’ trust and health. A recent study by globalinitiative.net found a dramatic increase in fake pharmaceuticals and medicines, adding to an illicit industry already estimated to be worth more than 4 billion euros.

Kothari said the Tracesci can be scalable for an individual to a group of any members. “There are various effective tools that are inbuilt apart from supply chain management and tracking, which can result in an increase of revenue for brands as well as customers' trust. These include consumer engagement tools, communicating feedback, loyalty, warranty, product information, brand promotion, etc,” he said.

Features and benefits

• Its interface is user-friendly which is a simple process-driven solution, which suits small to large manufacturers’ requirements

• Protect your product with secure packaging and authentication capabilities enable you to protect your brand and keep consumers safe while building brand trust

• Engage with end consumers through access to valuable market insights, including the end user’s profile

• Product serialisation for digital transformation to take place, serialisation will be the first step and a key enabler for every brand.

• Regulatory compliance to get a powerful solution supporting various compliance mandates set by different countries for different businesses.

• Seamless hardware integration to integrate with any printing/labelling device, speed conveyor systems, vision inspection cameras, etc.