By Michael Richter, DIRECTOR PRODUCT MARKETING, Iot and Blockchain Applications, ORACLE
Supply chain managers spend a lot of time handling disputes, anticipating, or reacting to fluctuating costs and coordinating complex operations across supply chains. Their customers never see or think about supply chains but if something goes wrong, they will be the first to give negative feedback or lose trust in your brand. Having visibility across supply chains, both deep and wide, is essential for introducing new innovative services and products, monitoring them throughout the manufacturing process, and delivering these to customers.
In a recent Analyst Brief written by Alan Pelz-Sharpe from Deep Analysis, he states; “End to end, real-time supply chain visibility is rare, but it is possible. Rapid advances in the worlds of cloud computing, IoT, and blockchain now provide the technical sophistication to enable accurate and trusted visibility into events for the most complex of supply chains.”
The Deep Analysis Analyst Brief describes how pre-built SaaS applications can provide business users will all the capabilities that blockchain offers including security, immutability, and establishing trust between partners. The trend is toward SaaS applications that are easily configured and make for easy adoption for invited members.
Oracle Intelligent Track and Trace, is a supply chain application that leverages blockchain technology. The application helps to address the challenges of managing complexities in a global network of trading partners. You don't need to be a developer to use the Intelligent Track and Trace application because it's a pre-built application that is ready-to-deploy. With built-in blockchain technology, the application helps to gain efficiencies for supply chain management by enabling multitier visibility across a supply chain. Prebuilt business flow templates and formats for documents make it easy to automate and ingest data from multiple partners. Once the network is configured and activated, supply chain managers can detect issues by defining rules in smart contracts that trigger alerts, warnings, or even actions.
Connectivity is made easy. If you’re an Oracle customer, we have seven built-in integrations with Oracle’s supply chain offerings. It’s also easy to connect with 3rd party and on-premises applications using Oracle Integration Cloud or Rest APIs. Since Intelligent Track and Trace is built using Oracle’s enterprise-grade blockchain platform, it inherits all the advantages of best-in-class performance, security, and scalability.
Oracle Intelligent Track and Trace is being applied to manufacturing, food and beverage, transportation, and other industries. It can help with manufacturing compliance and adherence to global trade regulations by ensuring all members of a network are using automated smart contracts. It can protect items from freezing by monitoring them when being transported by air, sea, or land. And members of a network can trace down to a serial number to verify they have the right part for an end product.
With Oracle Intelligent Track and Trace, the power of Oracle’s blockchain technology is harnessed to efficiently facilitate a network of trading partners who also benefit from being part of a trusted supply chain network.