Accelerating Blockchain Technology for Supply Chain Management

The Challenge:

Our client, a giant drinks manufacturing company wanted to record, store and analyze crucial data relating to their product, throughout its supply chain journey, from manufacturing through to its purchase by customers. They wanted a uniform, secure platform for data entry and analysis throughout the following steps-

1. Product manufacturing

2. Product’s transport to warehouse

3. Purchase by wholesale distributors

4. Order placement by retail owners

5. Purchase by customer(s)

The Knowledge Lens Solution:

With a Blockchain Provenance Backbone in place, product manufacturing details such as batch number, manufacturing date, and date of expiry, were registered on the network using a Hashed Key/ Barcode. Inventories of the product batches being transported to the warehouse were stored in the blockchain network along with the data associated with order management, units dispatched, and batch details.

Hashed transaction details were immutably stored in the blockchain when wholesale distributors purchased the product, and when retailers placed orders with the distributors. Once again, the transaction details were recorded and hashed in the blockchain network when customers bought the product from the retail shop.

Following this, analytics was performed for effective price optimization, future performance prediction, and demand prediction.

  • Traceability
  • Enterprise Grade Security
  • Trust through Consensus
  • Efficiency through Decentralization
  • Real-time Transfer and Settlement