Supply chain partners are reticent to share their internal data, which erodes trust and prevents transparency
Denver based TrackX, a SaaS-based enterprise asset management, and supply chain solution provider, and Houston-based Topl, a blockchain-based ESG technology company, are teaming up to provide a verifiable tracking and tracing solution to meet the growing demand for greater supply chain sustainability, transparency, and efficiency.
With 68% of US consumers stating that a company’s social reputation will influence their buying decisions and 41% of US consumers having a preference for products from companies that are associated with their ideals, consumer demand and industry pressure are pushing many businesses to increase and prove their sustainability and positive impact. COVID-19 concerns have exacerbated these problems driving the need for improved supply chain validation.
Meeting the three core customer needs of supply chain sustainability, transparency, and efficiency requires companies to be highly collaborative and transparent across the entire supply chain ecosystem. Despite advances in automation and data collection, obstacles remain. Supply chain partners are reticent to share their internal data, which erodes trust and prevents transparency. Often a unified and real-time view across the entire supply chain does not exist, making it difficult to find opportunities for improvement and to verify product sourcing and sustainability claims.
TrackX and Topl are coming together to solve these challenges. The integrated solution will combine Topl’s purpose-built blockchain technology with TrackX’s core enterprise asset management and supply chain optimization capabilities. Partners will be able to confidently and securely share verified event data to lower costs and increase transparency. Companies can now provide their customers and consumers with verifiable proof of origin and sustainability as well as Corporate Social Responsibility (CSR) claims.
