4 Reasons to Use Truligent for Luxury Goods & The Supply Chain

Global luxury brands work with supply chain management software to ehance efficiency in daily operations. The software also help them in beating fraud and protecting their customers against counterfeit products. Since they are highly-successful brands that are well-known globally, they need to exceed customer expectations. Truligent supply chain software simplifies the complex logistics tasks to ensure the business has an easy time tracking sales and meeting customers’ needs. It’s best practice to make your supply chain smarter to enable customers to track the origin of the luxury goods they purchase. Luxury brands tend to face many counterfeiting incidents, and Truligent supply chain software is designed to phase this out. Supply chain software also ensures that you have an on-going relationship with all your customers. Here’s why you need Truligent for your business;

1. Preventing Counterfeit

Counterfeiting is a serious problem especially for big brands, and it gets worse with each passing year. Implementing Truligent’s supply chain software allows you to prevent the theft of your company’s intellectual property. With anti-counterfeit software in place, you can easily prosper and grow as a business by preventing customers from purchasing sub-standard products. Counterfeiting includes false labelling of products that are passed up as original in the market, inferior quality of materials and products, and misappropriated use of a company’s trademark.

The answers to the questions below will help you determine whether your products are being counterfeited or not;

  • Does your company have an unexpected increase in returns and complaints from customers?
  • Does the brand have a market share even when you are not doing business?

Whether you are running a business that is well-known in the industry or an emerging brand, you should have appropriate measures in place to ensure opportunistic businesses are not counterfeiting your products. Since counterfeit products not only hurt the company but the customers as well, implementing anti-counterfeit technology will boost your customer conversion rate.

In dealing with counterfeit products, recognizing the problem is only the first step, you also need to verify the authenticity of your raw materials. When the products you produce are genuine, it will be easier to curb fake products inappropriately using your trademark. The tracing technology uses a serialized barcode that stores information electronically. Both distributors and customers can verify the authenticity of each product in the market. By identifying the origin of the products, the technology also allows you to track your products.

2. Product Activation

Aside from preventing counterfeit, Truligent supply chain management software also allows customers to activate products using their smartphones. The technology allows customers to learn more about a product simply by scanning the embedded bar code. Since the QR codes store data electronically, it will be easier for customers to differentiate genuine from fake products in the market.  Since customers can identify the legitimacy of luxury goods in the market, you won’t have a scenario where your brand has a market share even when you are not doing business. A certificate of authenticity is usually sent back to customers when they use the mobile apps designed to scan bar codes.

Successful businesses have a digital framework that connects data in a supply chain and as a business person, it is best practice to do the same. When each product has a bespoke website, tracking sales and keeping track of logistics becomes easier. Truligent supply chain software allows you to have an integrated view throughout the supply chain lifecycle. When you introduce digital technology into your operations, customers are guaranteed a personalized shopping experience.

Since digital supply chain still encapsulates all the components of a traditional supply chain, you get to meet customer expectations without drastically changing your business model. Building a customer-centric supply chain that enables instantaneous communication between customers and the brand boost faith in your business and improves customer experience.

3. Modernized Supply Chain

Even though the traditional aspect of a supply chain still plays an important role in today’s digital world, it is important for businesses to incorporate technology for a streamlined process. A modernized supply chain utilizes the latest software in the market to monitor the whereabouts of inventory and products in the market. Aside from ensuring customers have a personalized shopping experience, businesses also need to ensure that employees and distributors have an easy time stocking shelves and supplying product into the market.

This is especially useful for a big brand with different packing facilities. The streamlined technology ensures that multiple stores are simultaneously monitored without moving from one location to the next. Supply chain software saves money on employee labor and inventory management. As a business, you need to be committed to stocking or supplying products faster so you don’t lose business because a given product was out of stock. With an elaborate operating model, customers get the luxury products they need them.

4. Building Customer Trust

When customers know the process of verifying the authenticity of your products, they will trust your business. They will know they are safe when doing business with you. Showing customers how each product was made ensures they have confidence in the quality of your luxury goods. With a streamlined supply chain process customers can rely on, you can be assured that your customer conversion rate will increase. Customer expectations increase as more innovations are being introduced into the market. Supply chain technology allows customers to know more about each product you supply. This guarantees that they’ll have confidence in the quality of your luxury goods. Real-time alerts provide you with the information you can use to customize shopping experiences for each customer. Supply chain management software is a must-have for business as it simplifies the operation process to satisfy the customer.

Conclusion

A supply chain management software ensures that customers can identify genuine items in the market. Aside from that, business brands can also keep track of all the products and inventory thanks to the embedded QR codes. Building a customer-centric business ensures you boost your customer conversion rate and use every opportunity to grow your business. Supply chain management software is a must-have because it allows you to digitalize your physical products.