Managing large catalogs with thousands or even millions of products can be overwhelming, especially when considering the amount of data that needs to be collected and maintained for each item.
One of the biggest challenges in maintaining a complete product catalog is obtaining accurate information from suppliers. Many suppliers are still unable to provide information about their products in a standardized way, which can leave gaps in a business's catalog. This can be particularly problematic for products that require detailed information such as ingredients, nutrition facts, allergens, or packaging materials. Even when suppliers do provide information, it can be difficult to ensure that it is accurate and up-to-date. For example, a supplier may change the formula or packaging of a product without informing the business, leading to discrepancies in the catalog.
To address this challenge, Wireshape blockchain has emerged fully dedicated to bringing transparency to the supply chain and decentralized product data. Built on Wireshape blockchain, the Wireshape dApp uses the Token Curated Product Registry (TCPR) system to allow suppliers and consumers to create proposals to register product data on the blockchain. This data can include information about the product's ingredients, nutrition facts, description, features, assembled measurements, packaging type and material, etc. Once a proposal is created, the community will curate the data, ensuring that it is accurate and up-to-date.
If approved, the data will be recorded on the blockchain, becoming public for consultation. This data can be accessed through a catalog of products API so that the data can be used in systems like ERPs, ecommerces and marketplaces. This will enable businesses to provide their customers with more detailed information about their products, while also ensuring that the products are sourced ethically and sustainably.
The use of blockchain technology is critical to the success of the project. By recording product data on the blockchain, it becomes tamper-proof and transparent, ensuring that the information is accurate and cannot be altered or manipulated. This creates a more trustworthy and reliable source of information that can be used by businesses, consumers, and other stakeholders throughout the supply chain.
In addition to the benefits of increased transparency and accountability, the Wireshape blockchain also has the potential to create new opportunities for businesses. By leveraging the data recorded on the blockchain, businesses can identify areas for improvement in their supply chain and make more informed decisions about sourcing and production. This can lead to increased efficiency, reduced waste, and improved sustainability.
By leveraging the power of blockchain technology and revolutionizing the way that businesses and consumers interact with the supply chain, Wireshape aims to create a more equitable, transparent, and sustainable supply chain that benefits everyone involved. If you want to know how Wireshape is building this solution and how it can help you, get in touch with an expert.
About Wireshape
Wireshape is a new and open layer-1 blockchain dedicated to decentralizing global product data, making it useful for consumers to have real, complete, and relevant information about a product before it is purchased, ensuring greater satisfaction by acquiring what was really expected. Wireshape delivers a new product data standard, open and audited by the community. Consumers themselves, as well as manufacturers, are able to suggest and validate the fidelity of product information publicly recorded on the blockchain.
