Following are the major challenges faced by Suppliers, Manufacturers, Logistics Service Providers, Dealers / End Customers with respect to real time visibility of parts / package:
1) Considerable time spent in identifying material location and ETA.
2) Lack of real time visibility of a package due to cross border shipments, multi modal transport.
3) Special Good transit information needs to be captured in an immutable way for audit and safety purpose.
4) Disparate Systems with limited information exchange between parties.
RealTraceability - Blockchain & Smart Contracts Powered Solution:
1) It is an In-transit logistics and digital provenance solution which provides real time visibility of the material and captures its origin in an immutable way through the supply chain.
2) Solution seamlessly integrates with existing ERP / SAP & Logistics providers systems.
1) Monitor performance of logistics providers with evidence including on-time deliveries, on-time pickups and more.
2) Maintains History of High-Value Assets to ensure it complies with safety standards from factory floor to delivery.
3) Improves Quality Assurance as every authorized member involved in a transaction can access critical data to validate its milestones.
4) Results in faster payments and settlement process.
5) Every shipped good includes a digital “passport” that include essential data such as origin and its journey in the life cycle.
As per SCM Review, the total net benefit increases by 13% across value chain with use of blockchain & smart contracts.