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Blockchain Supply Chain Use Cases

Blockchain In The Supply Chain Use Cases: Certify The Existence Of Goods In Inventory

Blockchain In The Supply Chain Use Cases: Certify The Existence Of Goods In Inventory

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation. Blockchain in The Supply Chain Use Cases: Certify the Existence of Goods in Inventory The analysis of use cases proposed by Community NdT participants continues. Certify the Existence of Goods in Inventory (proposed by Omlog- logistics services and Guerra- SME food processor). This solution is useful for companies that keep their goods in temporary stores (e.g., cross-docking). From the point of view of the logistics service provider, the ability to ensure the traceability of the customer's goods throughout the entire transportation cycle ensures an important competitive advantage. In fact, during the journey the goods often change hands, while remaining- in the eyes of the customer- always under the responsibility of the transport service provider. Furthermore, the continuous visibility of the traveling goods allows to reduce the related insurance premiums to the full benefit of the logistics providers final economic result. Equally valid appears the benefit for the manufacturing company to use of blockchain-based applications that certify the existence of goods in stock, especially in cases where raw materials received from suppliers are subject to quality checks prior to their final acceptance and accounts booking. The certification assured on blockchain allows to deal with any disputes based on the certainty of the existence of the goods subject to inspection. The possibility to certify the existence of the goods in stock allows also a potential lender to recognize the value of the assets - while ensuring their use to the selling company - so as to activate aninventory finance service: the de-stocking of goods from Continue reading >>

5 Potential Use Cases For Blockchain In Agriculture

5 Potential Use Cases For Blockchain In Agriculture

5 Potential Use Cases for Blockchain in Agriculture Image downloaded with permission from Pexels.com Warning: this is NOT another post about speculating on bitcoin. Blockchain the technology that makes bitcoin possible, can also be used in a variety of different ways including in agricultural supply chains. Whats special about blockchain technology is that through cryptography we can create an ledger of assets and transactions that cannot be tampered with or hacked. That ledger allows for peer-to-peer transactions of currency, commodities, or really anything else of value to take place transparently. All of this can happen without the need for an intermediary like a bank (such as in cryptocurrencies) or a middleman in some agricultural examples. I just published the second episode in what will be a eight part series on blockchain in agriculture. The first two episodes below will give you a basic background for the general concept of blockchain in agriculture. For those of you whod rather read (or more likely skim), I have included five potential use cases for blockchain in agriculture in this post. I have also included some examples of companies already making headway in each category. 5 Potential Use Cases for Blockchain in Agriculture Food Safety. This seems to be the area where the most work has already been done because there clear vested interest from both producer and consumer. IBM along with companies like Walmart have started leading the charge in this capacity. You can learn more this in the video embedded in my LinkedIn post . Origin Trail , which (spoiler!) will be featured in episode 83 of the podcast is building a protocol that has been used in food safety as well as product journey (see #2). Bringing transparency to the supply chain will allow us to ident Continue reading >>

Top Blockchain Use Cases For Supply Chain Management

Top Blockchain Use Cases For Supply Chain Management

Top Blockchain Use Cases for Supply Chain Management Blockchain technology can help providing traceability across the supply chain. Here are a few use cases for blockchain technology and how it benefits the supply chain. If you read the news, youd think that blockchain technology going to transform every business by next Tuesday. Of course, thats not the case, but there are a few areas in addition to financial services that seem custom-designed for the technology. One is healthcare. Another is supply chain. Theres certainly a problem to be solved. For example, one shipment of refrigerated goods from East Africa to Europe can pass through roughly 30 people and organizations, with more than 200 interactions among them, according to shipping giant Maersk . Blockchain technology can help ensure provenance, providing traceability across the supply chain. This can thwart counterfeiters and ensure safety. The technology also allows manufacturers, shippers and customers to aggregate data, analyze trends, and perform predictive monitoring. Here are just a handful of use cases for blockchain technology, looked at through the lens of different industries. The coffee supply chain is ripe for reform. Production is fragmented coffee is mostly grown in remote and developing areas, prices are volatile, and climate change threatens many coffee-growing regions, reports Inbound Logistics . And human rights organizations have long documented abuses of laborers. Blockchain cant solve all those issues, but it can begin to bring transparency and efficiency to the coffee supply chain. For example, Bext360 is using blockchain technology to better track all elements of the worldwide coffee tradefrom farmer to consumerand thereby boost supply-chain productivity, reports Bitcoin Magazine . After Continue reading >>

The Growing Maturity Of Blockchain For Supply Chain Management

The Growing Maturity Of Blockchain For Supply Chain Management

The Growing Maturity Of Blockchain For Supply Chain Management I cover logistics and supply chain management. Opinions expressed by Forbes Contributors are their own. I have stated that I consider blockchain the least mature of the emerging technologies poised to impact supply chain management. Based on what I've heard in recent weeks, I need to revise that opinion. Speakers from the technology community included Anant Kadiyala, Director of Blockchain & Industry Solutions at Oracle; IBM's David Noller, Executive Architect Watson IoT - Blockchain and Industry 4.0; and Steven Kim, a Senior Director at SAP. The user community was represented by Jeff Denton, the Senior Director of Global Secure Supply Chain at AmerisourceBergen. Blockchain technology is incredibly elastic. It can be shaped in different ways, to fit different processes, network node architectures, and participants. It is difficult to generalize about blockchain for business in a way that is universally true. But IBM, Oracle, and SAP - probably the three largest players in the business application blockchain space - were all addressing this topic in a very similar way. One point all participants agreed on is that blockchain for business applications is not Bitcoin. Bitcoin was the first blockchain application, it is an unregulated shadow-currency, and it is widely seen as a mechanism more conducive to financial speculation than conducting business. IBM, Oracle, and SAP all built their blockchain platforms on Hyperledger, a technology more suitable to building business applications. Like blockchain for cryptocurrencies, there are mechanisms to make sure transactions are authenticated across a network of participants with distributed databases. There are several differences between cryptocurrencies and blockch Continue reading >>

Blockchain Technology For Supply Chain Management

Blockchain Technology For Supply Chain Management

Blockchain Technology for Supply Chain Management World trade settlement will be revolutionized by blockchain technology. Virtual currencies like Bitcoin are only the earliest use cases of blockchain technology. Blockchain technology will soon find application in real-world supply supply chain management. Ocean freight accounts for roughly 90% of goods traded globally. Surprisingly, ocean transportation is currently highly dependent on paperwork that has not been securely digitized. Shipping information usually travels through numerous companies and contractors, any one of which can cause a delay. A late approval or lost form can leave goods stuck at a checkpoint or port. The NYK Virgo is a container ship owned by the Barlett MarineCorp. A supply chain blockchain could boost transparency, trust, and predictability by allowing users to track where a shipment is at any given time. Since a blockchain is an immutable ledger, changes in possession and ownership of goods as they move from their producer to their point of retail could be entered into the ledger instantaneously and permanently. Because a blockchain is decentralized, it has no single point of failure. So, shipping, possession and ownership information could be better protected from tampering or hacks. Supply chain professionals can use blockchain technology to gather and use tracking data in dynamic new ways. For example, entries in a blockchain database could trigger other tasks such as the assignment of the next batch of goods arriving at a port to a certain dock or container area. Applying blockchain technology to instant settlement of transactions could also reduce friction in commercial financing, which underlies global trade and is currently an area from which many trade disputes arise. Additionally, disp Continue reading >>

Blockchain Technology Applications & Use Cases - Business Insider

Blockchain Technology Applications & Use Cases - Business Insider

As Bitcoin and other cryptocurrencies have been on fire for a large portion of 2017, focus has turned to blockchain, the underlying technology that powers these digital currencies. But blockchain technology has many more potential use cases and applications other than just serving as the fuel behind Bitcoin. Below, BI Intelligence, Business Insider's premium research service, has outlined those applications across finance, business, government, and other industries. Blockchain Use Cases in Banking & Finance Blockchain technology is simple to understand at its roots. Basically, the tech exists as a shared database filled with entries that must be confirmed and encrypted.It's helpful to envision it as a stronglyencrypted and verified shared Google Document, in which each entry in the sheet depends on a logical relationship to all its predecessors. Blockchainprovides a way tosecurely and efficiently create a tamper-prooflog of sensitive activity. This makes it excellent for international payments and money transfers.Julio Faura, Banco Santander's head of R&D and innovation, told BI Intelligence that the bank isparticularly interested in the potential of the technology in thepayments space. That's because as a large commercial bank, Santander has numerous retailclients who would benefit from more efficient and cheaper payments, particularly in the area of international transfers. Blockchain technology can be used to decrease the cost of these transfers by reducing the need for banks to manually settle transactions. And while that's something Santander isn't able to deliver using existing payment rails, it could potentially do so using ablockchain-based system, according to Faura. Banco Santander also sees potential for blockchain-based systems to improve capital markets, b Continue reading >>

How Blockchain Can Transform The Supply Chain

How Blockchain Can Transform The Supply Chain

How Blockchain Can Transform the Supply Chain How Blockchain Can Transform the Supply Chain Nov 15, 2017 | Supply Chain , Technology | 9 comments Supply chain has become complicated. Some would say cumbersome. It takes days to make a payment between a manufacturer and a supplier, or a customer and a vendor. Contracts must be handled by lawyers and bankers, which means extra cost and delay. Products and parts are often hard to trace back to suppliers, making defects difficult to eliminate. Whether for industrial equipment, consumer goods, food products, or digital offerings, supply chains have headaches a-plenty. Friction in supply chain is a big problem. There are too many go-betweens. There is too much to-ing and fro-ing. The rise in uncertainty stops supply chains from working well. Suppliers, providers and clients must deal via central third-party entities, instead of directly with each other. What should be simple transactions turn into lengthy procedures with many steps. Blockchain could be the answer to many of these issues. This recent technology is what drives bitcoin and other so-called cryptocurrencies. However, it goes much further than a hackproof way of holding and exchanging money. Blockchain can be used for any kind of exchange, agreements or tracking. In a supply chain, it can apply to anything from self-executing supply contracts to automated cold chain management. What is blockchain? Heres a simple explanation. A blockchain is a distributed, digital ledger. The ledger records transactions in a series of blocks. It exists in multiple copies spread over multiple computers, which are also called nodes. The ledger is secure because each new block of transactions is linked back to previous blocks in a way that makes tampering practically impossible. As it Continue reading >>

Blockchain In The Supply Chain Use Cases: Inventory Finance

Blockchain In The Supply Chain Use Cases: Inventory Finance

In the world of international trade, the process of exchanging payments, information and documents between buyers, sellers, banks, and other involved parties is becoming increasingly important for financial institutions. This community aims at presenting views and innovative ideas related to this financial supply chain space. Blockchain in The Supply Chain Use Cases: Inventory Finance The analysis of use cases proposed byCommunity NdTparticipants continues. Inventory Finance(proposed by a winery). The use case leverages the characteristics of blockchain data traceability and uniqueness to access funding for the purchase and growth of vineyards and the transformation of wine products. Currently the winery advances the cash needed to purchase "raw materials" (e.g., plants, agricultural materials, barrels) necessary for the collection and production of wine. It then hands off the vineyard to farmers that will take care of the plants until the harvest. At this point the farmers are paid for the work done, and the harvested grapes enter the production plant to be transformed into wine, put into barrels, mature, get bottled and finally sold. Only at this point the winery recovers the operating expenses and the initial financing. Considering the multi-year life cycle of wine, it becomes immediately evident that the winery has to bear a considerable financial burden during such a long cash cycle. Could it be possible to "offset" the financial burden of this materials warehouse, the company would significantly relief its balance sheet and allocate the financial resources thus released to profitable activities. The solution exists and takes the name ofInventory Finance: specialized operators buy the assets and hold the property during transportation and storage, thus optimizing Continue reading >>

Blockchain In Supply Chain Use Cases And The Role Of Technology Companies

Blockchain In Supply Chain Use Cases And The Role Of Technology Companies

Supply Chain Challenges and where DLTs Fit Supply chain has widely been identified as the industry sector other than financial services where blockchain will play a major transformative role in the near term. The reason behind this perspective is easy to understand. Supply chain has traditionally been a relatively more chaotic aspect of global trade involving myriad regulations, paperwork and participants who are spread across the world. It is also largely an opaque system with real accounting and accountability happening only at specific pre decided checkpoints. As a result, this movement of goods that exceeds $17 trillion of value annually (making it one of the costliest aspects of global trade) is marred with problems like counterfeits, thefts and forgery. Blockchain or Distributed Ledger Technology (DLT) is widely hailed as the next technology wave for the supply chain industry that will solve most of these existing problems. It is expected to bring enhanced visibility into the network, help stop counterfeits & thefts, improve regulatory compliance while reducing paperwork, and lessen costs significantly. Extensive literature is being written and some technology architectures are being created on using DLT in various forms of supply chain networks like pharmaceuticals , transportation & logistics , produce & other perishable food items (e.g. seafood) and luxury goods (e.g. diamonds). Many technology companies (both start-ups and existing technology stalwarts) are showcasing frameworks and solutions to implement DLT frameworks. However, is blockchain really the silver bullet that is being projected to solve most if not all of the current issues with supply chain? The reality is actually more complicated. DLTs while being transformative - offer some very specific adv Continue reading >>

Iota: Supply Chain As A Usecase

Iota: Supply Chain As A Usecase

Hey. Im German and I have started writing about IOTA on New Years Day 2018 I cannot code but writing is my way of supporting this great project of IOTA! IOTAs advantages over other blockchain/Distributed Ledger Technologies (DLTs) can be summarized as being fast, free and scalable. Besides autonomous driven (electric) cars supply chains are among the use cases which the Iota Foundation is focusing on at the moment; this is why Dominik Schiener, Co-founder of IOTA, will also talk about this in the context of the Bosch Connected World Expo. But what is it after all? A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer . Supply chain activities involve the transformation of natural resources , raw materials , and components into a finished product that is delivered to the end customer So what role could IOTA play here? Lets go through each of the steps involved in the supply chain. Even at the very start of the supply chain (i.e. the harvested good), Internet of Things (IoT) will play a major role: RFID and GPS sensors will grant companies access to basically all the data which is necessary for the further processing of the goods: be it origin, destination, transportation time, humidity, pressure even temperature! All kinds of data can be collected today via sensors and send to interested parties via IoT; the Bosch XDK gives a glimpse about which sensor data can be collected with it (the XDK is a device which can be easily connected to the internet and which tracks the following data from machines etc.): So lets keep it short: the raw materials themselves and the way they take during their transports can be monitored in a way like never before! Even in a digital age, r Continue reading >>

Why Blockchain Is A Game Changer For Supply Chain Management Transparency

Why Blockchain Is A Game Changer For Supply Chain Management Transparency

Why Blockchain is a Game Changer for Supply Chain Management Transparency From conducting payment and audits to tracking inventory and assets, blockchain technology will enable greater supply chain efficiency than ever before. Supply chain management solutions from IBM deliver supply chain planning and execution capabilities across the extended enterprise, enabling companies to anticipate, control and react to demand and supply volatility within the supply chain. Managing how and where you fulfill orders, how much inventory Founded in 2008, LoadDelivered has built an impressive portfolio of national customers and carriers, ranging from Fortune 500 shippers to small distribution networks. With a focus on providing unparalleled, high-touch service, LoadDelivered leverages the industrys most innovative technology and October 3, 2016 By Jon-Amerin Vorabutra Blockchain -the technology behind the digital asset and payment system Bitcoin -has the potential to transform the supply chain. In fact, some are calling it the most important invention since the Internet itself. Blockchain is a distributed database that holds records of digital data or events in a way that makes them tamper-resistant. While many users may access, inspect, or add to the data, they cant change or delete it. The original information stays put, leaving a permanent and public information trail, or chain, of transactions ( Investopedia ). Think of it like this: If the entire blockchain were the history of banking transactions, an individual bank statement would be a single block in the chain. Unlike most banking systems, however, there is no single organization that controls these transactions. It can only be updated through consensus of a majority of participants in the system ( Re/code ). In short, blockc Continue reading >>

Idc Says Supply Chain 'killer' Among Blockchain Use Cases

Idc Says Supply Chain 'killer' Among Blockchain Use Cases

News Stay informed about the latest enterprise technology news and product updates. IDC says supply chain 'killer' among blockchain use cases Blockchain is gaining ground in the supply chain and financial services, according to IDC, and other third-platform technologies are enabling the digitization of the economy. Blockchain Enterprise Survey: deployments, benefits and attitudes ComputerWeekly.com BOSTON -- After more than enough hype, blockchain use cases are lately becoming more numerous and real. In fact, improving supply chain processes will be the "killer" among blockchain use cases, according to Bill Fearnley, IDC research director of worldwide blockchain strategies, who spoke at the IDC Directions 2018 conference held here. "I get asked often 'What are the killer [blockchain] use cases?' and [supply chain] is it," Fearnley said. Blockchain ledgers can help improve the supply chain in three ways: shipment track and trace, inventory management and proving a product is genuine. "Increasingly consumers and manufacturers are getting more concerned and more aware of country of origin," Fearnley said. "For example, you're trying to make sure that you're not getting conflict minerals -- you want to make sure that the country of origin is the right place to be buying products from, that it's not in a war zone or from a criminal element." Other blockchain use cases are found in financial services , manufacturing and distribution and government services, Fearnley said. "Blockchain is the new foundation for digital trust which drives digital transformation and business transformation at scale," he said. "This changes security and trust both between companies -- suppliers, distributers, retailers-- and also between you and end-user customers and consumers." I get asked ofte Continue reading >>

Case Studies | Provenance

Case Studies | Provenance

Over 200 retailers and producers in the food and drinks industry use our software service to help prove the provenance of their products. Explore our featured success stories below, or sign up here to get started forfree. Made in Newlyn, United Kingdom by Newlyn Fish Company Pioneering a new standard for trust in foodretail Empowering customers all along the supply chain, Provenance enables retailers to provide shoppers with trustworthy data. The UKs largest consumer co-operative, The Co-op uses Provenance software to track fresh produce, and their product claims, from origin tosupermarket. Tracking proven sustainability claims through global supplychains Taking traceability solutions to the next level, Provenance enables a robust digital proof for sustainably-sourced and slavery-free products. We worked with over 12 Pole and Line certified producers in SE Asia to track fish through the supply chain for UK, Japanese and USmarkets. Its time to increase the integrity and interactivity of certifications. Provenance and Soil Association Organic are working together to reinforce the value of certification, bringing an interactive version of the organic mark to the supply chain and the pointofsale. Provenance technology supports fair trading in the digital age. Working in an international coconut supply chain, our software was extended to create a system that proves the exact living wage payment for productbatches. Empowering small, independent food brands with digital transparencytools Provenance benefits small businesses - both producers and retailers. Our platform has enabled independent UK food suppliers to gather product information and for retailers to share this with shoppers at their neighbourhoodstore. Can tech help boost trust and transparency in the fashion indust Continue reading >>

4 Innovative Use Cases For Blockchain

4 Innovative Use Cases For Blockchain

January 08, 2018, 09:55:47 AM EDT By Due.com Blockchain has quickly become one of the most dominant and promising technologies of the past year. With digital assets soaring and fledgling crypto-startups beginning to find product market fit, the blockchain movement has finally staked solid ground. As many technologists and industry experts predict, we are just scratching the surface of this massive digital revolution. While you are likely familiar with the most highly covered applications of blockchain, like Bitcoin and Ethereum, chances are you have yet to fully explore the long term implications of this technology. Here are four innovative use cases for blockchain, about many of which you have likely never thought. Many of the worlds most important and valuable industries, like oil and freight, are dependent on third-party intermediaries who manage and control access to information. Any given supply chain often has between five and ten independent brokerage services that work to streamline the end-to-end funnel. The problem, however, is that many of these agents have misaligned incentives, in that they are all fighting for their own slice of the profit. By leveraging blockchain systems, we can cut out intermediary parties and entrust an algorithm to manage network access to critical data and information. For example, the healthcare sector , overridden with regulation and inefficiencies, is primed for blockchain disruption. Blockchains can be used to automatically authorize information exchanged among insurance companies, patients and hospitals. This change will allow all stakeholders within the healthcare system to sync in real-time, as well as greatly reduce the amount of human touch points. Implemented at scale, we can remove the error of human bias and maintain cle Continue reading >>

Blockchain In The Supply Chain Use Cases: Proof Of Quality

Blockchain In The Supply Chain Use Cases: Proof Of Quality

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation. Blockchain in The Supply Chain Use Cases: Proof of Quality The analysis of use cases proposed by Community NdT participants continues. Proof of Quality (proposed by Guerra, an Italian SME food processor). There are small-medium sized companies (SMEs) that operate in the business-to-business sector, supplying semi-finished products to larger-sized producers and consumer operators. Since long these SMEs have decided to stay away from price competition, focusing instead on quality products both in terms of taste (typically a subjective factor), and complying with a precise series of objective and measurable parameters that determine the quality of a product, of its raw material components, as well as the quality of the processing and transformation processes. The economic, organizational, and commercial efforts required to remain constantly within the parameters that affect all aspects of the product and process life cycle (e.g., procurement, transformation, storage, shipment) become significant for an SME that must further support the burden of demonstrating its continuous compliance in order to be credible in the market, and therefore competitive. Demonstrating this with the tools currently in use becomes economically prohibitive. In fact, an SME that wishes to offer its customers- on behalf of the final consumer- a product label with the declared quality assertions, should bear the cost of demonstrability by activating a third part guarantor; all costs should then be multiplied by the number of links in the supply chain. There are also various certifications for which the SME has to bear additional costs, undergoing mu Continue reading >>

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