Oct 27, 2020
Updated: Jan 27, 2022
TagOne CEO, TJ Gupta was featured on the latest podcast episode by Consumer Goods Forum about Supply Chain Transparency
Check the Consumer Goods Forum website here for more information on their podcast: https://www.theconsumergoodsforum.com/news-resources/?_type=podcast
Reframing the Stigma of Unattainable Transparency
Among the first topics Gupta addresses is the stigma surrounding the attainability of transparency for any business (1:17). Many either don't realize, or do not wish to acknowledge how attainable transparency really is. Whether ignorant or fearful to make the change to this new technology, it can be a detrimental mindset. Gupta instead reframes this view by asserting that "the only thing lacking is the intent [of businesses] to achieve full transparency" (1:45). Ultimately, Gupta explains, that while the supply chain is complex, the technology at our very fingertips is more advanced than ever and as a result, it is possible to achieve transparency".
Implications of Lacking Transparency (4:41)
While transparency sounds great, what are the real applications?
Historically, a lack of transparency was acceptable in the past, but consumers are beginning to demand it now (4:58). Those companies who are not looking to make the move towards implementing technology like blockchain which allows consumers to gan visibility into the supply chain will find themselves losing business in the near future, Gupta explains.
Capturing Data: What Does the Technology Look Like? (6:10)
The ease of capturing your data via blockchain technology depends on the level of organization your company already operates with. Gupta explains that the more organized you are with your data and process, the easier the process to integrate software solutions. Fortunately, current technology makes it easy to be organized and accurately allocate this data. Mobile devices and cloud tech aide companies to make strides towards enhancing their transparency.
The Consumer Goods Forum Podcast, "End-to-End Value Chain", is available on Spotify and iTunes.