Walmart Canada And Blockchain To Make SCM Better!
Walmart Canada has proclaimed the world’s first enterprise full production blockchain solution launched at a large scale mission-critical function. The network will allow for sharing data and collaboration between seventy 3rd party trucking organizations delivering the company.
The blockchain system is a collaboration between Walmart Canada and DLT Labs. It will reportedly boost efficiency, cut down costs, and help in smooth planning and budgeting for the company’s logistics wing.
According to a press release presented earlier today, the Walmart Canada blockchain is the most prominent application of the technology for the logistics industry. It will be used not only to verify transactions but also track deliveries, and generate payments between the company and the 70 trucking companies it is associated with.
It will deliver to Walmart’s four hundred retail stores all over Canada.
The company expects to have onboard all the trucking companies it is associated with by Feb 2020. Those working at different points of the supply chain could then use a web portal and mobile application to connect with the blockchain system.
“This new effective and interactive platform is creating complete clarity between all of our carrier partners and Walmart Canada. It is enabling a material advance in our smart transportation network.”
Senior vice-president of supply chain and logistics at Walmart Canada, John Bayliss, commented on the new system.
John further added that the platform could remarkably boost efficiency in logistics and would not only reduce the firm’s environmental footprint but would reduce financial savings as well.
The new system is an association between DLT Labs and Walmart Canada. The Toronto-based startup’s chief executive officer, Loudon Owen, also commented on the newly-launched system.
“DLT Labs is happy to partner with such an outstanding organization to bring the world’s first and largest blockchain solution for the industry into production. Just as Roman’s concept, ‘dictum meum pactum’ (i.e. ‘my word is my bond’) was fundamental to building trade, this product creates a secure digital handshake using blockchain to renew trust and efficiency in global business.”
The new blockchain system from Walmart appears to be much grander in scale. The company states that over 4,500 associates and drivers routinely visit its 8.75 million square feet of distribution centers.
The system will eventually integrate them all. Given the expanse of the new network, the company is expecting the automated of data collecting, and management will result in massive financial savings.