Honeywell, a big name in industrial automation and control solutions, announced that it has ventured to bring transparency and increased security in complex supply chains. It is leveraging blockchain technology to offer end-to-end real-time tracking and tracing, combating counterfeit parts, improving inventory management, and managing brand reputation.
Honeywell is partnering with iTRACE Technologiestechnologies Inc., a leading provider of supply chain security solutions, to provide real-time verification and authentication with track-and-trace of printing labels. This will be carried out by integrating iTRACE’s product verification technology iTRACE 2DMI® with Honeywell’s PX940v industrial printer. The iTRACE 2DMI® solution can be printed, verified, and registered to Honeywell’s blockchain through Honeywell PX940v.
Kevin Dehoff, the president of Honeywell’s Productivity Products business, said, “This simple to use and easy to deploy secure implementation of an anti-counterfeit technology used with our industrial printers will have a huge impact in the manufacturing and distribution industry where it has often been difficult to deploy these kinds of advanced track-and-trace and authentication solutions.”
This integration will allow a secure and transparent product authentication and the ability to track and trace the product deployed in any warehouse or production location. The connection of the physical printed item on the ledger creates a digital twin for online authentication, which adds another level of security. This will be very helpful for the companies belonging to regulated industries that require high precision and error-free printing like healthcare, transportations, logistics, manufacturing, pharmaceuticals, etc.
In conclusion, this integrated solution is going to have tremendous impacts on the security and transparency of supply chains. With traceable and secure printed labels, the products can be tracked and authenticated on the blockchain at every checkpoint of a supply chain. This will lead to an increased level of trust within the system and confidence in its products’ authenticity.