Maventic Addresses Counterfeiting Concerns and Revolutionizes Business Operations for a Leading Home Appliances Client

Maventic Addresses Counterfeiting Concerns and Revolutionizes Business Operations for a Leading Home Appliances Client

Our client, a leading multinational manufacturing company specializing in consumer electronics and home appliances, faced counterfeiting challenges across their supply chain. This posed a significant threat to their brand reputation and customer trust.

Business Scenario

With a diverse product portfolio and a strong commitment to customer satisfaction, the client recognized the urgent need to combat counterfeiting while improving various aspects of their business, including customer experience, supply chain management, trade promotions, and business promotions.

Challenges

Counterfeit Proliferation: Widespread availability of cheap counterfeit products of sub-standard quality and fraudulent warranty claims on counterfeit products affected the client’s brand reputation and resulted in a direct loss of revenue.

Supply Chain Inefficiencies: The client's supply chain management was plagued by logistical challenges and insufficient visibility into inventory. This hindered their ability to optimize manufacturing decisions, resulting in stock shortages, overstocking, and missed sales opportunities.

Limited Customer Experience: The client struggled to provide a seamless and engaging customer experience both in-store and post-purchase. Customers lacked easy access to product details, warranty information, and service requests, leading to frustration and reduced satisfaction.

Ineffective Trade Influencer Management: The client faced difficulties in managing trade promotions and delivering targeted discounts to registered handymen. The existing system lacked a streamlined process for influencer management and hindered their ability to incentivize professional customers effectively. Additionally, discounted products exclusive to a specific market were often purchased and sold off in other markets by trade partners. The client was unable to track such products, leading to an inability to identify and curb such unethical trade practices.

Limited Business Promotion Capabilities: The client struggled to gain visibility into customer purchase details and utilize this information to drive business promotions. Manual processes for sales tracking, warranty reminders, and personalized offers resulted in inconsistent communication and missed sales opportunities.

Solution

Understanding the client's requirements and challenges, Maventic proposed and implemented our comprehensive track-and-trace solution, Trackit, that addressed the client's diverse business needs, encompassing counterfeit detection, supply chain management, customer experience, and trade and business promotions.

Counterfeit Product Detection: With the help of Trackit, we assigned a unique code to individual products or batches. This allowed the client to track the movement of each unit through respective mobile applications, right from production to the end consumer. By empowering the client to perform checks at the retail and wholesale level, they could quickly identify and isolate counterfeit products, trace their origins, and take necessary legal actions. 

Supply Chain Visibility and Optimization: Our track-and-trace solution facilitated end-to-end logistics management, enabling the client to track inventory in real time.

Enhanced Customer Experience: 

• Trackit’s unique product QR codes gave customers easy access to detailed product information. Customers could scan them in-store to retrieve specifications, usage guidelines, customer reviews, and related accessories, enabling them to make informed purchase decisions.
• Additionally, the solution streamlined post-purchase experiences, offering a user-friendly warranty registration process and enabling customers to check warranty status and generate service requests online conveniently.

Trade Promotions and Ethical Compliance: 

• Trackit facilitated trade promotions and targeted discounts for registered handymen. Product codes generated by the solution allowed handymen to scan and access exclusive deals relevant to their profiles. 
• Additionally, the solution enabled the client to track and trace products, curbing unethical trade practices such as purchasing discounted products in one market and reselling them in others. 

Data-Driven Business Promotions: 

• Trackit integrated customer purchase data, empowering the client to gain visibility into customer purchase details. With the help of this data, Trackit enabled the client to execute targeted business promotions, including personalized offers, warranty renewal reminders, and other relevant campaigns. 
• Automation reduced manual processes, ensuring consistent and timely customer communication, thereby maximizing sales opportunities and enhancing customer engagement.

Benefits

Enhanced Counterfeit Detection & Customer Experience: 

• The client was able to investigate and identify the suppliers who dealt with the sale of counterfeit products. This also curtailed fraudulent warranty claims overall, resulting in direct ROI.
• Customers experienced an improved overall shopping experience with easy access to product information, simplified warranty processes, and streamlined service requests. 
• Customer satisfaction and loyalty increased, leading to repeat business and positive word-of-mouth.

Optimized Supply Chain Operations: The client achieved greater visibility into inventory, enabling better demand forecasting, efficient logistics management, and optimized manufacturing decisions. This improved inventory turnover, minimized stockouts, and reduced operational costs.

Effective Trade Promotions: The influencer management module facilitated targeted promotions and discounts for registered handymen, boosting their engagement, increasing product sales, and expanding the client's customer base within the professional community.

Improved Business Promotion ROI: Using customer purchase data and automated promotion campaigns led to higher sales conversion rates, increased customer retention, and improved ROI for business promotions. Personalized offers and timely reminders contributed to higher customer engagement and satisfaction.

Operational Efficiency and Cost Savings: The track-and-trace solution streamlined processes, reduced manual efforts, and improved overall operational efficiency. This resulted in cost savings, minimized errors, and enabled the client's employees to focus on value-added tasks rather than administrative work.

In conclusion, our comprehensive track-and-trace solution, Trackit, transformed our client's business by identifying and isolating counterfeit products significantly and delivering superior customer experiences, optimized supply chain operations, effective trade promotions, and data-driven business promotions. The client significantly improved customer satisfaction, sales, operational efficiency, and cost savings, establishing them as a market leader in their industry.