Hey there…
This is one of the use cases where blockchain is used by Walmart in its freight management system to reap the benefits of Transperancy and Accuracy of its Supply chain movement
The Proposed Solution is the World largest full Production chain solution for any Industrial application
Lets us how did they do it !!
Walmart – American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores
DLT Labs – Enterprise providing Data Management Products to Transform Business Processes
The new decentralized system will use distributed ledger technology (DLT) to track deliveries, verify transactions and automate payments among Walmart’s 400 retail stores across Canada.
Data shall be entered into distributed decentralized network every time a transaction takes place (Say material loaded, Ready to dispatch, Delivered, Delivery acknowledged, Inventory count and Quality accepted, Payment Due, Payment made etc etc) This way every transaction is made available in an immutable ledger and hence reconciliation of trips and materials is made possible in a transperant way.
The new system is scheduled to be live by February 1 2020.
The solution is accessible using a web portal and a mobile application.
This Process ensures extensive cost savings, Expedite Payments, Accurate tracking etc
The decentralized network manages, integrates, and synchronises all the supply chain and logistics data in real time, aggregating the data between Walmart Canada and its attached fleet of third-party trucks
Loudon Owen, CEO of DLT Labs, added: “This proves the high value of blockchain and sets the stage to revolutionise supply chain management and logistics, due to its ability to enable secure information sharing, manage trust, and reduce waste in multi-partner operational processes.”
With the proven benefits, once this Project has proven the transperancy, the same will be applied across all the markets facilitating end to end process flow including Payments via Blockchain and Cryptos !!
