Product traceability platform Loopcycle has started tracking its first set of catering equipment products, marking a key milestone since its launch into the market last year.
The company has teamed up with Ecofast Environmental in a move that will see the manufacturer’s food waste equipment assigned a unique product code that means it can be tracked through its lifecycle.
Loopcycle aims to redefine the management, recovery and resale of valuable secondary products, driving integrity within the reuse marketplace.
The technology embeds lasting product traceability at the point of manufacture or resale by assigning a ‘Cyclecode’ to each unit, allowing users to track product provenance with their smart device.
The platform facilitates visibility and direct interactions between manufacturers and end-users where intermediaries control product distribution.
Loopcycle said the platform is designed to unlock commercial and sustainable value for its users to foster long-term relationships, cost-effectively manage their assets, extend the product lifecycle and improve circularity within the supply chain.
Founder and CEO Lugano Kapembwa explained how the concept worked in a recent episode of Market Talk, which can be viewed HERE.