To continue to grow, today’s businesses must navigate a world fraught with new supply chain challenges. More frequent supply chain disruptions, increased regulatory compliance requirements, and consumer demands for sustainability and transparency create new cost and resource pressures that can only be addressed with technology and process improvement.
The trends towards sustainability and resiliency in particular are motivating leading companies to invest heavily in their supply chain digital transformation. Consider these statistics:
- ESG initiatives have significant business impact and have shown to grow profits by up to 60%.
- 70% of consumers are willing to pay more for “Green” products
- McKinsey predicts that companies will face a 2 month supply disruption every three and a half years.
- 62% of companies expect the cost and time of regulatory compliance to grow this year.
ESG and social impact in particular are gaining significant traction as a corporate objective. A company’s supply chain can comprise nearly ninety percent of its environmental footprint. Logistics leaders face tremendous pressure to achieve seemingly conflicting goals of delivering on ESG, lowering costs and meeting customer requirements for speed and quality.
This is where TrackX steps in. TrackX, an emerging leader in the logistics solutions sector, is a tracing, tracking and collaboration solution designed specifically to help customers address today’s challenges for a more sustainable, efficient and resilient supply chain. In fact, the company’s platform is one the fastest, simplest, and most cost-effective ways for supply chains to accomplish their ESG (Environmental, Social, and Governance) and sustainability goals.
TrackX’s platform is set apart from other supply chain management (SCM) solutions in that it is purpose-built to solve today’s challenges. TrackX’s easily integrated platform uses best-in-class hardware to collect asset and inventory data, such as location, state, condition, ownership, and environmental conditions at every step in the supply chain process. The proprietary cloud-based platform, called Keychain, aggregates data across multiple locations and multiple trading partners to improve collaboration, transparency and trust throughout the supply chain. Comprehensive analytics, powered by artificial intelligence and machine learning, enables process efficiency, improved asset utilization and complete chain of custody among many other benefits. The TrackX team helps its customers maximize value by maintaining strategic relationships with the leading hardware manufacturers and delivering a variety of consultative services.
“We help leading enterprises succeed by empowering them to meet ever-growing demands on their supply chain activities and related information in less time, with improved visibility, at a lower cost.” said Tim Harvie, the President, and CEO of TrackX. “Since TrackX integrates with existing SCM and ERP software, our clients are able to add tremendous capabilities while at the same time unlocking the value of their existing investments.”
The TrackX Keychain product line includes TrackX Collect, TrackX Control Tower, TrackX Verify, TrackX ESG, and TrackX Connect.
TrackX Collect™ is a custom-designed, enterprise-wide IoT divide infrastructure, that helps fulfil the increasing demands for granular, real-time data, from a company’s supply chain operations. It helps monitor asset condition, location, and movement data across the entire supply chain ecosystem.
TrackX Control Tower™ is a central enterprise analytics platform, which helps company gain enterprise control of its assets across all locations to become more efficient, resilient, and profitable. The SaaS-based platform connects to the entire data collection infrastructure whether it is supplied by TrackX or a different provider. The web portal, too, integrates well with existing ERP and other legacy software applications. Its capabilities include ESG reporting, compliance monitoring, tracking, tracing, inventory and returnable asset management, forecasting, and planning analysis.
Critical supply chain data including chain of custody, product authenticity and proof of origin can be safely and securely shared, with partners and customers through TrackX Verify™. The platform can write the data to a blockchain that is secure, immutable, permissible and unaltered, therefore giving the company complete confidence and control over shared and confidential data.
TrackX ESG™ is a component of Keychain built with the purpose of simplifying the activation of ESG and sustainability initiatives. This solution collects and analyzes asset data required for a company to verify sustainability and other claims, ultimately automating compliance to regulatory and industry standards, such as GRI or SASB.
TrackX Connect™ allows companies to seamlessly integrate TrackX into their existing enterprise software solutions, hence speeding up the implementation process to less than four weeks. It also increases the reach of a business’s TrackX deployment and simplifies training.
Aided by its Control Tower analytics, and safe collaboration tools, the company helps customers create a digital supply chain so that the managers or administrators can rapidly respond to disruptions, without having to halt the functioning of the supply chain.
With a mission of ensuring supply chain transparency for a sustainable world, TrackX is committed to offering the most scalable, enterprise-level, and integrated service available that companies can trust, as they undergo a digital transformation.
Unlike most of its competitors, TrackX is uniquely focused on working with its clientele to solve their ESG and sustainability-related challenges. Features like automated reporting, provision of sourcing validation, core tracking, and tracing, give it an edge over the competition, simply because these are offered on a completely customizable and scalable platform. It is also highly cost-effective as companies only have to pay for the services they need.
TrackX coalesces the benefits of customized, state-of-the-art automated data collection systems, that are based on RFID, mobile technology, and IoT; a Control Tower analytics platform that utilizes predictive analytics like AI; advisory services; and web-based collaboration tools, that facilitate the sharing of data with customers, and partners.
With a 10-year track record, TrackX has worked a blue-chip client list, includes reputed companies like Tyson Foods, GE Appliances, Polaris, Carvana and the University of Notre Dame, to name a few. While serving a wide array of industries, the company’s core focus is in Food Service, Beverage and Brewery, Automotive, Logistics, Retail, Technology and Manufacturing.
In the future, as TrackX expands its capabilities, it aspires to improve its novel platform to help customers accelerate their digital transformation, and expand its range of solutions to meet the market demand for efficient, transparent supply chains that stimulate collaboration.
It will also strive to deliver applications that enable customers to activate ESG activity, and respond to sustainability demands, therefore making it easier for them, and their partners, to invest in, deploy, and expand their relationship with TrackX.
“We will continue with our emphasis on sustainable supply chains, with new products and features that will improve transparency and reporting to consumers, shareholders, and other stakeholders, automating reporting and audits, providing proof of environmental control and ethical behaviour, and verifying of supplier claims of origin.”, states Tim Harvie, with regard to the company’s vision.
TrackX is a company that emphasizes a sustainable and transparent supply chain. It recognizes that these solutions cannot take a one-size-fits-all approach, which is why its solutions are customizable and effective. With a team led by senior professionals with nearly 30 years of experience in this field, TrackX continues to accelerate digital transformation.