Defining your business's goals, outcomes and objectives is the first step in any successful traceability initiative. Below, read an extract from the TrusTrace Traceability Roadmap that will you gain clarity around crucial elements of your strategy, helping you to gain support from the key decision-makers in your business and start your traceability journey on the right foot.
With no one size fits all traceability solution, it’s crucial that each company rigorously investigates and defines its needs when developing a traceability strategy. At TrusTrace, we have seen many companies get stuck in analysis paralysis — unable to move forward with a clear strategy because they’re thinking too long-term.
In an ever-changing traceability landscape, it’s important not to get distracted by the uncertainty of what’s to come. Legislation, a tumultuous economy and unforeseen global events continue to shift the priorities and actions of the industry, and it is impossible to have perfect knowledge when you set out to implement traceability.
When building a plan without knowing the exact challenges you might face along the way, it’s critical to strike the right balance between developing a long-term vision and ensuring you get started.
To gain the support of decision-makers in your company, it’s important to present the business case for a traceability platform. The selling points go far beyond achieving compliance or ESG commitments — the data acquired through a traceability system can help to make your company more efficient too.
So, how should you approach your traceability strategy? By investing in traceability solution providers that you trust to help you reach your short-, medium- and long-term goals. To define these, think beyond current legislative requirements and create a more holistic strategy that will make your businesses robust and future-proof.
Defining Goals, Objectives and Outcomes
Without establishing your goals, objectives and desired outcomes, a traceability program is sure to derail and will fail to create a meaningful impact. Before starting, define the following:
What are your goals?
The business drivers pushing your organization towards a traceability solution. These could include:
- To comply with regulations like the European Commission’s Green Claims Directive, the U.S. Forced Labor Prevention Act, and the German Supply Chain Act to secure a presence in key market
- To sell your products through retailers with stringent sustainability policies
- To attract conscious consumers with evidence-based claims about your products
- To increase the stock price or attract sustainability investments like green bond
- To make a meaningful impact in your supply chains to reduce carbon emissions, improve biodiversity, and enable social changes
What are your objectives?
The specific objectives you want to achieve in order to reach your goals. These could include:
- To ensure your products and supply chain comply with regulations in all the regions you sell in
- To make accurate product claims through the correct sustainability labels
- To confidently communicate sustainability credentials to consumers without greenwashing)
- To audit your supply chain for fair labor conditions or assess its environmental footprint in order to identify how to improve
What are your desired outcomes?
The measurable benefits that will signal the success of this initiative. These could include:
- To ensure all sustainability claims are backed up by robust data
- To automate the labeling of products sold through online retailers
- To ensure the availability of all information for regulatory compliance in one single location
- To communicate with your suppliers on a common platform and manage data collection!
- To improve the accuracy of your data and reduce the workload for you and your suppliers
To start your traceability transformation on the right foot, download your free copy of the Traceability Roadmap today.
