Integrate. Merriam-Webster defines it as “to form, coordinate, or blend into a functioning or unified whole”. In many areas of business (or society), this term implies that the whole is more productive and efficient than the sum of the disparate parts. So how exactly does Covectra endorse this concept in its core business of brand protection, serialization science and business value creation? The answer lies in the evolution of these pursuits as separate solutions to business challenges to a synergistic and unified set of best practices and information flows.
Let’s examine these synergies. It’s important to first understand that Covectra is a brand protection company that specializes in tracking, tracing and authenticating products and packaging components as they move throughout the supply chain. The commonality of the challenges being addressed is primarily in the overarching domain of supply chain management. The first tier of protection then is to ensure that the product/package is authentic, not fake or adulterated in any way along its commercial journey. The second tier of protection is to ensure that the movement of the product is also legitimate, recognizing that gray market trade into unauthorized zones and/or improper handling/storage can lead to both financial losses and risks to the users of the products. As a third tier of the integration model, complete end-to-end supply chain visibility brings together the three key elements of commerce: transactional information flow, money flow and inventory flow.
Today, particularly when conducting business across borders or when using third party intermediaries as trading partners, it is rare for brand owners to have the luxury of complete visibility and control of supply chain activities.
This brings us to the unique value of the Covectra portfolio of services. Think of the integration as a hierarchy of product security and business intelligence.
- Real-time business intelligence of supply & demand on pricing, volume & mix
- Real-time visibility of commercial activities using unit of sale track & trace
- Point authentication of product & packaging using multi-layered brand protection
By evolving from marking packaging materials to installing a product tracking system, ultimately generating business intelligence, a company can establish an integrated value (supply) chain. Such a demand/supply network of real-time intelligence can then be curated to marketing, demand planning, logistics, finance – to suppliers and customers as well.
As a result of this secure supply chain integration model, competitive advantage can extend beyond features and benefits of the product. The value proposition for the brand is significantly enhanced by integrating new information technologies that help ensure the integrity of supply and real-time knowledge of commercial transactions.
Give us a call. Let’s start the conversation with brand protection measures and supply chain integrity practices. Then let’s continue to discuss the added value of serialization as the foundation of a track & trace system. Finally, we can demonstrate how adding the third tier of business intelligence can set your products and services apart from that of your competitors.
Imagine that – a safe and secure supply chain that reveals itself to trusted suppliers, trading partners and customers along the entire continuum of commerce! Now that’s how Covectra defines “integration”.
Covectra, Inc. is dedicated to the study of supply chain integrity and the deployment of proven counter-measures to help achieve brand protection and enhance supply chain intelligence. We invite you to share your thoughts with us as this nascent field continues to mature and permeate virtually all industry sectors and all channels of trade.