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Walmart's blockchain initiatives are a sign of the future of supply chain management

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by COINS NEWS 71 Views

Did you know that Walmart has been using blockchain in its supply chain since 2017?
Here are some of the example how they are using it and how it helps them to improve:

Walmart Food Traceability Initiative: In 2017, Walmart launched the Walmart Food Traceability Initiative, partnering with IBM and other food companies to use blockchain to track the movement of food through the supply chain.

DL Freight blockchain: In 2019, Walmart Canada launched the DL Freight blockchain to automate the invoice payment process for its shippers. The blockchain system synchronizes all data points in real-time with each unique delivery, calculating information such as fuel costs, offroad distances, and delays at the point of delivery This has helped reduce payment disputes and improve efficiency.

Smart Contracts for Supplier Onboarding: Walmart is exploring how to use smart contracts to automate the supplier onboarding process. This will allow suppliers to get on board faster and more efficiently, and will also help reduce the risk of fraud.

What other cases do you know of companies using blockchain to improve their processes??

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