A new partnership between Sourcemap and Provenance signals a major win for the food and fashion industries. The two companies have linked their digital platforms for supply chain transparency, allowing brands to address inefficiencies and unsustainable and unethical practices through supply chain mapping, data collection and tracking of verified claims with the movement of product.
Following increased reports of fraud in cheese, olive oil, beef and seafood in 2016, brands have been clamoring for new solutions that allow them to easily trace and authenticate their products. Opaque supply chains present significant financial and reputational risks and with growing consumer demand for product transparency, it is now more important than ever for brands to embrace traceability.
“Our enterprise customers are looking for every assurance that their supply chains are best-in-class and we’re thrilled to provide continuous verification through Provenance’s blockchain technology,” said Leonardo Bonanni, CEO of Sourcemap.
While the technology platform is an indispensable business tool, it will also unlock new potential for brand-consumer relations. The platform, which is currently in the pilot stage, will provide consumers with access to information about how a product is made, when and where, with details about product quality, social practices and environmental footprint expected to be made available in the near future.
“Buyers and shoppers all over the world make daily moral and health compromises without knowing it. Tackling this problem involves several systems to unite and create joined-up solutions for change at scale,” said Jessi Baker, CEO of Provenance. “We are excited to partner with Sourcemap to create the bulletproof traceability system industry needs.”
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Published Jul 25, 2017 2pm EDT / 11am PDT / 7pm BST / 8pm CEST