Blockchain technology offers greater transparency and a single source of truth for for participants using supply chain networks. Intelligent track and trace of orders, goods and delays via blockchain could expedite the sending and receipt of goods.
Today’s supply chains produce multiple data points often times resulting in thousands of daily transactions that need to be validated and confirmed.
While all this "big data" data presents opportunities, it can also be incredibly difficult to manage, especially if that data isn’t properly validated by all parties. The lack of validation can expose organizations to risk, especially if they are trying to track supply chain goods that are regulated by law. For supply chain tracking, blockchain technology offers some unique benefits.
Intelligent Track and Trace on Blockchain for Supply Chain
Oracle's Blockchain Supply Chain Application is designed to help organizations meet some of the business problems posed by supply chain networks.
In late 2018, Oracle announced a new suite of Blockchain Applications at Oracle OpenWorld. Since the announcement, Oracle has been closely collaborating with early adopters to gather their feedback to help design the Blockchain Apps. At MBX, March 19-21 in Las Vegas, Oracle experts will share aggregated learnings from their design partner engagements and take a deep dive into our first Blockchain Application Offering: Oracle Intelligent Track and Trace.
The Oracle Blockchain App for Intelligent Track and Trace uses Oracle Blockchain Platform (a Cloud PaaS) to securely record business transactions across the supply chain. The Oracle Blockchain App uses fine-grained access control to provide track-and-trace reporting, insights and analytics based on the trading partner’s privileges on the network. The design team's use cases run across variety of industries, including:
• Product provenance tracking from manufacturing plant to retail store for a Top 10 retailer.
• Drug efficacy control through chain of custody logs for a Fortune 50 pharmaceutical company.
• Traceability & control from farm to fork for an international meat producer.
• Anti-counterfeit parts traceability for large automotive manufacturer.
• Regulatory compliance for international cosmetic manufacturer.
Interested in Supply Chain? Learn more about the Supply Chain SIG Oracle & Hyperledger are working on
If you're interested in Supply Chain and Blockchain, you might be interested in joining a Hyperledger Special Interest group that Jay Chugh, Sr. Director of Emerging Technologies, Product Marketing at Oracle is leading. Contact Jay here to express your interest in joining the Supply Chain and Blockchain group.