How Bonafi helps large companies with asset tracking.
When you do not know where your inventories are located, which items are coming in and going out, etc. it is hard to understand the overall picture of your inventory, let alone counterfeits entering the supply chain.
Counterfeit Items in Inventories – Big Trouble Approaching
When you have counterfeit items in your inventories and warehouses, you have big trouble coming your way. If you ship fake items to your customers, the cost of rectifying such issues can be overwhelming. There could be legal issues as well as additional costs associated with handling, replacement, and overhead. Even if the counterfeit problem is resolved, it can be cumbersome since it is time-consuming, not to mention dealing with a dissatisfied customer. Thus, an excellent solution is to adopt a blockchain-based solution that works on a global scale to track your inventories and assets at any given moment. Enter Bonafi…
Bonafi for Asset Tracking for Large Companies
Bonafi plans to be an international solution provider for large companies to assist in tracking their assets. The best thing about Bonafi's blockchain-based solution is that these companies will be able to track their items precisely whether items are sitting in warehouses or on the move. Such a solution empowers the company by giving it a supply chain management of the assets. It is nearly impossible for counterfeiters to insert their items into the inventory when such a complete solution is in place. Let's take a look at exactly how Bonafi helps large companies with asset tracking.
Bonafi can also help large retailers manage the tracking of all of their assets using only one application. Furthermore, even manufacturers and producers of goods can track their assets using just one application. The crypto-tag helps identify every item as unique and tracks its movement throughout the supply chain.
Retailers do not have a system to verify the authenticity of these counterfeit items. However, with Bonafi, these large companies will be able to recognize when a fake item comes into the inventory instantly. Because they won't be able to see the information of the item within the Bonafi system, this will be an indicator that the item is counterfeit.
This is costly for the company and wastes a lot of time, especially for customers who have not received fake items. With Bonafi, companies will be able to identify the exact item that has a defect. They can recall only that item and save a large sum on massive recalls.
Bonafi plans to build an extremely valuable tool for large companies to track assets on blockchain. However, its usefulness goes far beyond asset tracking. It will also help companies to prevent counterfeit items from making their way into their inventories. As a result, they will be able to improve customer satisfaction, improve their brand image, and improve their bottom line.
Steve Kuh, CEO and Founder, is interested in providing solutions to combat counterfeit goods using blockchain technologies at Bonafi. His specialty includes 20+ years of experience in systems engineering, marketing, and the creation of digital IT products. Steve is interested in blockchain technology because it presents opportunities to solve issues such as counterfeiting. With Bonafi, Steve is hoping to develop and market products utilizing blockchain-based decentralized public ledger technologies and change the world one person at a time.