Remember three years ago when the pandemic hit and the price of face masks soared to over Php 500 per box? Low supply coupled with overwhelming demand kept the prices up for months and our kababayans had no choice but to shell out 10-20x the normal rate during the height of the lockdowns. To make matters worse, many mask companies had not passed health safety standards and even brands that made it to the FDA-approved list were plagued by counterfeits.

Popular advice was to use home tests‚ burn a sample mask, attempt to blow out a candle, pour water on the fabric, or hold it to the light. Otherwise, unless a box of masks was purchased directly from the manufacturer or an official distributor, it was difficult to tell apart the real ones from the fakes.

Procuring quality PPEs during a national emergency is just one of the many ways product lifecycle management can impact our everyday lives.

As consumers, we often find ourselves questioning the quality and origins of the products we buy. How can we distinguish organic and ethically-sourced clothing from typical factory-produced garments? How can we identify counterfeit luxury items and smuggled goods? How can companies keep track of different batches of edible items like gourmet coffee, tea, and wine where climate, soil conditions, and storage are crucial to the flavor and quality of the final brew?

The answer is to record a product's lifecycle‚ from design prototyping and sourcing raw materials all the way to delivering the final product to consumers and disposing of it when it breaks, and make this data accessible on demand. One of the best ways to achieve this is through the use of blockchain technology.

Let's take a look at how the blockchain can be used to enhance the production and sales of three everyday products: sneakers, coffee, and mobile phones.

Sneakers:

Blockchain technology can document the manufacturing process and verify the ethical sourcing of raw materials and ensure compliance with environmental and labor standards. Each pair of sneakers can be assigned an identification number to trace the distribution of individual sneakers from factories to retailers. If store managers or future buyers want to guarantee the product's authenticity, they can quickly refer to the blockchain record.

This is especially useful for collectors who buy limited-edition sneakers from resellers and want unquestionable proof that an item is an original. Moreover, blockchain technology can also be used to protect intellectual property rights by identifying the owners of the original design patent.

Coffee:

Brewing specialty coffee begins with sourcing quality coffee beans. Growing conditions, harvest date, processing methods, and length of storage all affect the flavor of the brew. The data at every stage can be recorded on the blockchain to ensure the quality of the final product.

Mobile Phones:

Modern electronic devices usually source their batteries, screens, chips, and other individual parts from different global suppliers. To avoid the risk of using subpar materials, companies can use blockchain technology to track each component. Inventory management becomes easier if every unit can be tracked through the blockchain, and the manufacturing and sales can also be used to manage warranties, dispute claims, and track payment plans, repairs, and replacements. Furthermore, sharing this information with materials recovery facilities makes it easier to properly sort out and dispose of e-waste.

In each case, blockchain technology ensures quality and improves the overall efficiency of product lifecycle management. The increased transparency and data visibility are especially important in industries like food and healthcare, where the origin, production, and handling of products are crucial for consumer safety.

Blockchain Benefits in a Nutshell

1. Transparency: Blockchain technology ensures that all transactions and movements of goods are visible to all participants. By keeping accurate records of all the costs involved, the blockchain increases price transparency and helps eliminate unnecessary costs.
2. Efficiency: It automates processes through smart contracts, reducing errors and delays.
3. Security: It helps prevent counterfeits, fraud, and theft by providing a comprehensive record that cannot be tampered with.
4. Quality Control: Blockchain technology can store compliance data to ensure that products meet required standards.
5. Smarter Decision-Making: Insights from customer feedback and manufacturing data can be used to improve future production, distribution, and marketing strategies.

Blockchain technology is a practical solution to real-world problems in product lifecycle management. From guaranteeing the quality of critical medical supplies to verifying the ethical sourcing of everyday consumables, the blockchain adds trust to every step of the product lifecycle. This leads to increased consumer loyalty, better brand reputation, and a more sustainable approach to the manufacturing process.