Page 11 - Case Study Annual 2018
P. 11
Thought Leadership
Blockchains can manage electronic digital in the overall supply chain process from raw
payments/documents using digital signatures, material sourcing to end customer delivery. Time
and exact time and date stamps. compression is now an essential feature of world
A blockchain can manage the digital class supply chains. Blockchains can form an
payments made once approved work is integrated secure supply chain ‘folder’ of essential
performed completely and successfully: supply chain activities such as Port Health sign-
the shipment is delivered in full at an exact off s by port authorities, which could happen
port location at 8:03am on 5 August 2018. A much faster on a digital blockchain platform.
blockchain can eff ectively manage the DHL Blockchains can also give place specifi c sign-
shipment made to an exact individual, as well off s in the supply chain – thus getting the right
as the digital paperwork and digital payment product to the right customer, in the right place, at
involved. Blockchains can handle proof of the right time, at a better cost, in a quality-audited
delivery, digital paperwork and electronic condition – through a digital record with digital
documents stored within the chain as well as signatures at specifi c digital locations through
essential physical supply chain documents (such global positioning systems (GPS).
as a bill of lading), signatures related to proof of
delivery, and even proof of electronic payments Blockchain’s potential benefi ts for the
(EFTs). Blockchains can also include an exact supply chain
time stamp of when things happened. • Reduce fraud in the supply chain.
Blockchains will reduce supply chain • Increase the security in the supply chain.
paperwork and lead to greater supply chain • Keep easier track of products as they move
time compression (lead times reductions). through an end-to-end supply chain.
Blockchains could potentially replace the • Keep track of cold chain temperature sensitive
mounds of paperwork that supply chains and items more easily as they move through the
international shipments typically create. They chain.
could also create greater visibility of the overall • Keep track of major engineering projects and all
supply chain. the inbound supplies from contractors.
Blockchain technology has the potential to • Keep track of automotive production from start
globally redesign the way business transacts to fi nish and even beyond production towards
across nearly every industry in the global dealerships/ownership.
economy. The key benefi t of blockchain • Keep track of ingredients in the food supply
technology is the distributed infrastructure’s chain of popular brand items you buy in the
ability to share information - securely, quickly store.
and accurately - and provide for the irreversible Cross-company collaboration along complex
transfer of data, ensuring data integrity. This global supply chains will help remove many of the
makes the technology an important tool typically abundant process steps and unnecessary
in building trust amongst businesses and friction, whilst simultaneously establishing an
consumers. integrated system of established, automated trust
Blockchains will also save a lot of time within the blockchain. •
The Logistics News Case Study Annual 2018 9
