A tracking and tracing system for taxable or high-value products such as alcohol and tobacco is highly desirable for governments around the world. By monitoring in real time, the movement of those products throughout all stages of the supply chain, from production or import sites to retail outlets, government officials are able to quickly identify where any illicit activity has occurred.
Faraday Tech offers real-time control on all production lines with secured data transmission to the central server. As soon as these assets leave their production facilities, they can be also be tracked throughout the entire transportation and supply chain moves. Since it is also possible to receive a final notification at the moment of sale, governments can even produce reports on average time spent on shelves, for example, but also start to investigate if needed after a certain period of inactivity.
The same principle also applies on prescription drugs, which can also be quite valuable and fetch larger amounts on the black market. Countries that have implemented a tracking and tracing system for any sort of product have all seen a significant increase of tax revenues as well as a crackdown of illicit trade.
