We offer one-to-one training as well as company-customised workshops on precisely how blockchain alters the business processes in your supply chain niche.
Software Development & Integration
We work with technical partners with deep blockchain expertise to offer custom blockchain use case development, blockchain protocol guidance, smart contract development, application development as well as implementation and integration services.
The Blockchain Opportunity
Supply chain friction costs UK small and medium businesses an average of £89k each year in unmet demand. Consumer trust in the authenticity of products is at an all time low, while, $700bn is lost in wastage each year due to poor forecasting and fragmented supplier relationships.
There is a vast, unmet opportunity for SMEs to unplug their bottlenecked supply chains to increase product volumes whilst at the same time, bringing provable integrity to their product and ingredient journeys.
Blockchain is a simple to use supply chain tool which enables:
1. Near real-time reconciliation of data on supply chain events and, therefore, vast improvements in the speed of executing operational tasks (e.g. compliance, forecasting, data reconciliation etc.)
2. The capturing of provable data to support claims made around, quality, ethics and authenticity to customers.
Blockchain tools are simple to set up and drastically reduce business process steps alongside real cost savings.
Example Use Cases
Enhanced Customer Loyalty
Blockchain enables end-to-end product traceability along the supply chain. Wether it’s from “farm to fork” or “boat to plate”. Blockchain enables hitherto unforeseen levels of transparency that end consumers can access by scanning a QR code on brand packaging. Early adopting brands have seen significant customer loyalty gains in adopting this rapidly growing new standard.
- Pain point – low trust among consumers of product authenticity
- Solution – QR Code on Packaging, Blockchain-based Event Logging System
- Key Outcomes – #Customer Loyalty #Brand Engagement
Real Time Visibility
Blockchain’s core feature is a ledger showing a real time, chronological data stream of supply chain events and moments that cannot be tampered with. Having a ‘you see what I see right now’ data feed system improves efficiency by reducing complex data reconciliation processes. Moreover, the untamperable nature of the ledger reduces fraudulent data manipulation practices that plagues supply chains with fragmented data entry systems.
- Pain point – data reconciliation between parties is fraught with delays and inaccuracies
- Solution – Real Time Data Reconciliation using the blockchain data ledger
- Key Outcomes – #Real Time Insight #Reduced Error Fixing
The lifecycle of key supply chain documentation and contracts can be captured by blockchain systems, which enables them to be trusted and automated. Having all of your supply chain stakeholders working from a blockchain-based system enables unprecedented reductions in waybill, bill of lading and contract management costs as well as compliance.
- Pain point – document management processes are inefficient
- Solution – capture key documents in a blockchain system
- Key Outcomes – #Automated Contract Enforcement #Document Management
When purchasing food products,
8 in 10 consumers check the origin.
Source: Nielsen, 2015 and Elementar UK, 2017.