The acquisition will allow OPTEL to close its end-to-end traceability loop, by completing its offer with the first link in the supply chain
OPTEL GROUP, a leading global provider of traceability systems for diverse industries, namely, pharmaceuticals and medical devices, has recently acquired GeoTraceability. Consisting of two entities, one in Canada and the other in the UK, GeoTraceability develops advanced information systems combining traceability and geomatics technologies to support the inclusion of smallholder producers of commodities and raw materials into complex supply chains.
The acquisition of GeoTraceability enables OPTEL to close its end-to-end traceability loop, by completing its offer with the first link in the supply chain; i.e., raw materials and resource extraction. OPTEL’s current expertise already covers most other aspects of the supply chain, such as manufacturing, distribution, consumption, and waste tracking. The addition of GeoTraceability’s technologies to OPTEL’s portfolio makes the company truly unique, as it is the only one in the world enabling end-to-end traceability.
This new acquisition also facilitates OPTEL’s entry into several other markets such as the agri-food and natural resources industries. “Supported by increasing demand, geo-traceability for raw materials is now a well-known concept throughout the world,” says Pierre Courtemanche, President, GeoTraceability. “Our solutions are currently used in 17 countries, mainly for cocoa, coffee, fruit, nuts, vegetables, cotton, palm oil as well as minerals, and our database contains information on more than 250,000 small-scale producers in Asia, Africa and South America,” adds Courtemanche.
By providing information on raw material producers at the start of complex supply chains, investors, companies, and consumers can make more informed decisions regarding their investments, suppliers and product purchases. This new ability is directly related to OPTEL’s mission, as end-to-end traceability is the key to a sustainable economy.
“Our plan consists in optimising supply chains to increase performance. Our customers, initially manufacturers, will now be able to benefit from unprecedented visibility over the origin of the raw materials that they transform,” states Louis Roy, President, OPTEL GROUP. “In addition to increasing their operational efficiency and quality control, end-to-end traceability helps create a sustainable economy in the long term; this means respecting the environment as well as the availability of natural resources, concludes Roy.
Thanks to technologies such as artificial intelligence and blockchain in particular, which ensures the security of the tracking process, OPTEL’s solutions will allow customers to increase productivity, reduce waste, cut distribution costs, control carbon emissions and even increase brand equity.