Supply chain transparency

We share information and data on everything that goes into making Sprout pencils and makeup liners, including contracts, certifications, where the raw materials used originate from and the CO2 impact created through the production and distribution of Sprout products. Most importantly, our message focuses on what consumers can do with the remaining pencil stump and highlighting the benefits that are driven from reusing items instead of throwing them in the trash and buying new ones. All Sprout products are designed with a second life.

It takes time and it’s not an easy task to gather all the necessary data. You have to get all your vendors and partners on board with it, and their partners to, if it’s relevant to your supply chain. Also, you need to make sure that the information you’re sharing isn’t compromising the business. For example, if you’re a small company with not much leverage and you share who your supplier is, a competitor could choose to place a large order with your supplier and potentially meaning they’re not able to fulfil your order. Something like this is what you need to be aware of.

For a long time, there has been a need for a tool that can verify the green claims that companies make. Blockchain is that tool. It gives people both inside and outside of an organization a guarantee that the information and data they’re looking at is correct and trustworthy.

At its core, blockchain is a distributed digital ledger that stores data. While any conventional database can store information, blockchain is unique in that it’s totally decentralized. Rather than being maintained in one location by a centralized administrator (like an Excel spreadsheet or a bank database) with blockchain, multiple identical copies of the database held on separate computers that are spread out across a network. Data in a blockchain can’t be changed or deleted. Therefore, companies can show total transparency and authenticity through its blockchain.

Blockchain is a better, safer way to record activity and keep data fresh, while maintaining a record of its history. The data can't be corrupted by anyone or accidentally deleted, and you benefit from both a historical trail of data, plus an instantly up-to-date record.

Blockchain technology is unlike any tool we’ve previously used, and it’s taken time to understand it. For us, it’s been a huge help being part of a blockchain network. Together with other brands who are new to this technology, we share ideas and ask questions. Additionally, we’ve brought in a skilled student to help us role out blockchain in Sprout. Working together, we’ll advance our use of blockchain, something I’m very excited about.

1. Make sure that this technology makes sense for your business. Will it have a positive influence on how you work?

2. Undertake a thorough analysis of what information and data you need to document in the blockchain, as not all of it will be relevant.

3. Before implementing blockchain technology into your business, first talk with your suppliers. Are they up for the task? If not, what is your Plan B?

4. Acquire the resources you need to work with this new technology, preferably hiring someone internally. An idea could be to hire a skilled technology student employee. The future needs them, and you’ll be giving them the opportunity to connect theory and practice in a working environment. It’s a win-win for all.

5. If you decide blockchain is the route you want to go down, before implementing it, get the buy-in of the entire company. It impacts every department so it makes sense.