Blockchain can be a solution for information problems that occur in logistics. The following article from Logistics Management shows the resulting savings of large companies that have started using blockchain for their supply chain solutions.
Walmart’s announcement of a food safety blockchain solution, and Nestlé, Unilever, Tyson Foods, and Starbucks’ blockchain trials also show possibilities.
By Patrick Burnson, Executive Editor · October 25, 2018
A new study conducted by Capgemini notes that despite the barriers facing blockchain, 87% of survey respondents said they are at least in the early stages of blockchain experimentation and the top drivers behind investments are cost saving (89%), enhanced traceability (81%) and increased transparency (79%). Walmart’s announcement of a food safety blockchain solution, and Nestlé, Unilever, Tyson Foods, and Starbucks’ blockchain trials also show possibilities.
Among the observations contained in the study are these:
- Key drivers of blockchain investments: cost saving (89%), enhanced traceability (81%) and enhanced transparency (79%).
- Barriers to implementation: lack of clear ROI (66%), immature technology (65%), and regulatory challenges (61%).
- Recommendations for a blockchain supply chain strategy: assess skills of current employees, measure success like a venture capital firm, implement security controls before scaling, and join a consortium to achieve standardization.