Simply put, product digitization consists of converting all the analog information about a product into a digital form. This can be as simple as putting written information about a product into a digital product management system.

Contrary to digitization, which simply consists of the transformation of analog documents and processes into a digital form, digitalization is the transformation and evolution of business processes by leveraging digital tools. For example, the analysis of data collected throughout the supply chain to put in place more efficient business practices.

Forward traceability is the ability to trace components or materials throughout the supply chain, all the way to the final consumer. On the other hand, backward traceability is the tracing of every single component tand event that comes into contact with a single product, starting from the consumer, all the way back to the basic raw materials.

Traceability is extremely important, both for the brand owner and the consumer, as it allows them to know everything about their products. Through forward traceability, brand owners can get a clear picture of their product journey, allowing them to optimize their supply chain and guarantee that there are no deviations. Through backwards traceability, consumers can guarantee that their product is authentic and know exactly what is it’s compositions and what interventions have been made on it.