Source: Planet Tracker
Supply chain disruptions were front page news in 2021, highlighting an urgent need for companies to be able to track products along their supply chains. Traceability reveals the history, location and application of an item. Management teams sometimes resist implementing traceability systems arguing they are too costly. But are such systems the cost of doing business or a nice to have? Planet Tracker argues they are a necessity and investors should demand their adoption if only for reasons of self-interest – i.e. reducing their exposure to hidden supply chain risks. Now is an ideal time to embed traceability within companies’ supply chains. Below, we explain why.