Corruption and theft are other pain points. According to an estimate, roughly 30 percent of goods and services scheduled to be delivered as relief were lost. Moreover, it would amount to over seven percent of allocated budgets to perform an audit of the supply chain to determine loss points and supply gaps. Also, complications associated with financing, micro-financing, and audit adds to inefficiencies. Aid agencies are in an imperative need for a solution to streamline their operations, sustain inventory behaviors, and to bring about transparency into their supply chain. This is where TraceRx steps-in with a simple and intuitive cloud-based application that is powered by blockchain.
The company’s offering enables relief organizations to “track and trace” their inventory and supplies all the way from manufacturing to the last mile. Be it operational data collection, distributing products amongst parties, or visual mapping, the solutions give these entities the ability to drill down to granular levels of the supply chain. The use of blockchain to store and verify information renders utmost transparency into operations and enables easy auditing. “A unique feature of our platform is its customizable, mobile-friendly, smart dashboard, which acts as a brain of the entire supply chain operations,” says Matthew D. Rosen, CEO of TraceRx. The dashboard comes built-in with business logic and AI stacks that can learn from previous functional iterations pertaining to aid delivery to boost the effectiveness and efficiency in the supply chain. The offering also comes with seamless communication tools for facilitating interaction, data capture and information exchange with group members and field employees. Its admin controls enable proper resource utilization, and as swell ensures security and confidentiality.
From an onboarding standpoint, TraceRx helps their clients in mapping their standard operating procedure (SOP) on to the platform. Also, their databases would be deployed on to the cloud while being integrated into the blockchain framework to ultimately repurpose them as “ready-to-use” management data that is audit-ready, transparent, and immutable. The platform facilitates aid agencies in gaining full control over their resource utilization; its tamper-proof documentation allows certifying the quality of aid deliverables to ensure their integrity.
A unique feature of our platform is its customizable, mobile-friendly, smart dashboard, which acts as a brain of the entire supply chain operations
Another aspect that sets TraceRx apart from other players in the market is the vast amount of experience that the company’s workforce holds which amounts to over ninety years of service in the supply chain landscape. The company is well equipped and capable of understanding the unique requirements that their clients may have.
Rosen highlights an instance of one such client who faced issues concerning inventory management. Lack of transparency in daily resource utilization and availability of goods was affecting their performance. After partnering with TraceRx, they were able to generate stock reports precisely. They were also able to accurately determine the availability of inventories at other locations that were geographically closer without the need for too many back-and-forth communications between locally operating workforces.
Having carved a unique niche for itself in the market with several such success instances, TraceRx continues to sharpen the edge of their offerings to match evolving customer needs and lead the industry standard for middle-mile tracking.