Manufacturing businesses often sell their products to customers via third parties or intermediaries. This means there is no direct link between the manufacturer and the end-user. For the manufacturers, this missing link decreases the chances of valuable product recovery for remanufacturing or recycling and makes it harder to foster long-term customer relationships. For the end-users, managing physical assets across multiple sites can lead to losing track of the product inventory. This makes it easier to write off the end-of-life goods and pay for their removal rather than repairing and extending the asset’s life, which would be a more sustainable and cost-effective outcome.
Loopcycle is aiming to fix this broken link. By working with the equipment manufacturers, Loopcycle ensures visibility throughout the asset’s lifecycle. To do this, Loopcycle builds in traceability at the point of manufacture by assigning a unique product ID, called ‘Cyclecode’. This code allows users to track product provenance with their smart device, creating two-way visibility between the manufacturers and their end-users, which helps to extend the life of existing products by making servicing and repair easier.
For the manufacturers, Loopcycle’s product maximises customer lifetime value, automates the product registry onto the platform and minimises waste by improving end-of-life product recovery. This way, the manufacturer can maintain a relationship with the customers throughout the product’s life, not just at the original point of sale. For the end-users, this process improves product service through direct access to the manufacturers. By digitising inventory management, end-users can fully utilise equipment across multiple sites or resell unneeded products at a responsible marketplace.
By fostering a direct relationship between manufacturer and end-user and creating a digital, whole lifecycle approach to inventory management, Loopcycle is helping businesses to deliver the net-zero carbon target and move towards a circular economy while maximising the value of their capital investments. Loopcycle is a great example of how technological solutions can make a positive impact for both end-users and manufacturers at the same time.
Loopcycle was founded during 2019 in London by Lugano Kapembwa, a corporate sustainability specialist and Chandan Rajah, a tech entrepreneur with a history of successful start-ups behind him.
We are proud to welcome Loopcycle as a new member of ACT | The App Association.
To find out more, visit Loopcycle.io, join their newsletter or send them an email.