Chain of custody is a term often thrown around as a buzzword. In combination with the latest technology hypes like IoT, the chain of custody is magnified to address everything from supply chain security to regulatory compliance. What is chain of custody? How and why is it relevant for supply chains? You may find multiple definitions of a chain of custody by governments, associations, agencies, logistics service providers, shippers. All of them take a slightly different viewpoint on the topic. The simplest way to define the chain of custody in the context of supply chains could be to name it as a certification mechanism that enables goods to come with a digital passport that serves as a verifiable transcript of the product’s life-cycle and journey. The chain of custody certification offers the ability for public and private entities to chronologically document (physically or electronically) the ingredients, components and final products, their condition from production to destinat
In a world faced with the prospect of tightening supplies, higher energy costs heightened geopolitical risk, and strained transportation networks, advanced supply chain technologies will become mission-critical for many more companies. The supply chain task is not an enterprise problem; it is an end-to-end network problem involving multiple enterprises. Therefore, the solution does not lie in fixing one link in the chain but in devising a community.