Supply chain management is one of the most challenging aspects of running a company, and many of the issues stem from the lack of relevant data and analytics to show just how well supply chains are working. But a new online tracking system is expected to change all that.
Founded by Leonardo Bonanni, Sourcemap enables companies to track through their supply chains from the provision of raw materials to the shipment of finished goods in a timely and accurate manner.
The system also covers material sources such as farms and mines, which many tracking tools developed over the years did not consider.
What is Sourcemap?
Considered one of the most transparent tracking tools available, it isn’t surprising that Sourcemap has become a must-have for a number of multinational conglomerates in the fields of agriculture, F&B, automotives, mobile technologies, and even apparel and textiles.
Indeed, Sourcemap has given client companies enough data to show how efficiently their supply chains are and pinpoint critical areas for improvement.
The cloud-based nature of this open-source tool also ensures that the information remains secure and clients can easily access data for reference.
“We recognized the power of the cloud early on,” Bonanni says of the endeavor, “along with that of networking-type databases and global smartphone diffusion. We’ve taken our customers to a world where they have direct visibility over their global operations and see where there might be something wrong.”
Unlike standard audits, which only collect data within a specific timeframe, Sourcemap gleans information continuously and in real-time. This enables the system to flag potential spurious activity, which may involve something as innocuous as material wastage, to crimes like sabotage via adulteration, fraud, personnel abuse, or even counterfeiting.
Sourcemap runs on non-relational NoSQL database technology – a more flexible, scalable, and less expensive alternative to most forms of databasing software. Here, clients provide information about where they source their raw materials; then, suppliers are invited to join the network and provide evidence to validate their relationship with the client.
Ensuring transparency and accountability
This proof includes the specific locations where raw materials are sourced. It offers a very transparent way to establish the steps or stages within a company’s supply change and allows for more efficient monitoring.
With the full suite of tools built into the Sourcemap platforms, clients can easily navigate a process that maps out their suppliers. At the same time, they can monitor the performance of those involved in each link of the chain, essentially verifying the supply chain as a whole. As a result, clients become confident enough to import goods while they comply with customs regulations.
The platform has also enabled better communication between clients, their stakeholders, and even their end-consumers. It assures each one as to where their commodities are sourced. The technology also guarantees that all procurement methods are compliant with global standards for environmental, social, and governance.