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What is the motivation behind Walmart investing in a blockchain solution?
A: To be able to trace the source of food in the case of an e-coli outbreak. -
How will this new solution benefit us as customers?
A: It will result in a safer food supply. -
How will this new solution benefit Walmart as a corporation?
A: Cost savings, improved product and ease of auditing the supply chain in the event of a problem. -
What was the missing piece in their solution before they found blockchain?
A: Shared, transparent product data.
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increasing food safety by making the supply chain/suppliers traceable in a much quicker way
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it will reduce drastically the probability that infected food is being sold
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assuring that the food Walmart sells is safe, and that if there is a problem with a product it can be traced back immediately
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stakeholders were not able to work together in an efficient way. Transparency was the missing piece.
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To be able to track products easier in the supply chain. Before moving the process to the blockchain, it typically took approximately 7 days to trace the source of food. With the blockchain, itâs been reduced to 2.2 seconds.
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We will be able to have a good overview where our products comes from and everything will run much smoother and faster.
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If any products by mistake have been somewhat harmful or bad for humans, they can track where it came from in a much faster way.
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A shared forum where companies could begin to see each othersâ transactions and develop trust.
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1.- Be able to track products in a more efficient way in the supply chain
2.- The quality of the products get certified at a higher level
3.- If a good had an issue, they can identify almost immediately, and track each of them
4.- The actors in the supply chain were not be able to work in sync, and in an efficient way
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- What is the motivation behind Walmart investing in a blockchain solution?
The motivation is food safety, so they are attempting to use the Blockchain to digitize the food supply chain process.
- How will this new solution benefit us as customers?
That infected food will never reach to them thanks to the Blockchain data.
- How will this new solution benefit Walmart as a corporation?
They will provide a system very easy to use by the suppliers so they donât need to be blockchain experts.they will receive benefit from the transparency and efficiency of the Blockchain vs. the old system.
- What was the missing piece in their solution before they found blockchain?
Transparency, traceability, and trust.
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- Being able to track products from start to finish. This can mitigate profit loss in the case of a mishandling or breakdown in the chain process
- Will provide more transparency to the food chain that traverse products that we consume as a safety standard
- Will increase profits, safety standards and trust with customers
- The ability to see other entities transactions and gain trust
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- there are sometimes issues with food delivered, if an issue arises blockchain technology will help them get info on the whole supply chain easily and find out very fast where a potential flaw was done and what to check up on first
- we as customers will have less worries that the supplied food is of either lesser quality, not transported well, has diseases etc
- walmart will have data to choose better suppliers based on acquired data, also will be less likely liable in case of bad product as supply issues could be traced; also workflow would be transparent to all companies in the chain so there would be internal regulation and verification to do good within each partner company; the product delivered is also more likely to be of suitable quality
- a simple and intuitive way to attach relevant data onto a shared database in a standardized manner; trust in data provided could not be achieved
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- What is the motivation behind Walmart investing in a blockchain solution?
Due to a health scare and the subsequent inability to pinpoint the origin of the virus, a system was needed to be able to transparently authenticate and record the flow of meat transactions from producers, processors, distributors, grocers, consumers.
- How will this new solution benefit us as customers?
Provide consumers with trust that the food they consume have not be tainted and the process to bring the food to consumers is transparent enough to provide this trust
- How will this new solution benefit Walmart as a corporation?
Walmart will be a leader in ensuring food that it sells is free of fraud and disease. Goodwill for the company as it will be a trusted brand in the market. Provides Walmart with consumer confidence.
- What was the missing piece in their solution before they found blockchain?
A transparent shared forum where companies can begin to see each othersâ transactions and develop trust ie. Any bad actors with be identified therefore there is an incentive for companies within the supply chain to do the right thing in fear of reputational loss.
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What is the motivation behind Walmart investing in a blockchain solution?
The encountering of food safety issues prompted the need for transparency but an efficient transparency with quick speed of detection where the issues might originate from along the supply chain.
How will this new solution benefit us as customers?
It will alleviate trust in having a firm understanding of all the process involves in making sure safe food are what client is purchasing.It will eliminate risk of contracting disease or even associated loss of life that can come with it.
How will this new solution benefit Walmart as a corporation?
It will turn Walmart to a leading trusted supplier and a much more preferable shopping store of choice as they make due diligent to put their source of income(customers needs) first.
** What was the missing piece in their solution before they found blockchain?**
A forum where business can see each otherâs transaction to develop trust among collaborated business partner
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- An outbreak of E coli from spinach
- Transparency of how a product came to be
- Increase food safety
- There were no fast way to pinpoint from where in the supply chain fraud had taken place.
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- To prevent contamination of food from poor hygiene or bacteria and possibly eliminate unwanted chemicals in the process.
- You can be sure of getting the best quality of supply and avoid poisonous substances.
- The customers will soon understand and recognise Walmart as a trustworthy corporation and probably recommend to their friends. Walmart will also save money on tracking the goods, as the tracking will follow from the hyperledger.
- Parts in the supply chain of foods did not take properly measures to ensure quality and food safety.
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1 Escherichia coli bacteria outbreak in spinach
2 More transparency about food ingredients origin
3 Restore consumer confidence in food traceability
4 A shared forum where companies could begin to see each othersâ transactions and develop trust
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The motivation was to speed up the products traceability
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Customers are safer in the way that Walmart can track the origin of the products and moreover, how have been produced, distributed, etc.
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Walmart will be able to detect the origin of possible products problem from the origin very fast, reducing costs by cutting the selling, tracing, etc.
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A platform where their suppliers could update the information easily of products. Avoiding paper or old platform that donât communicate with the supplychain.
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1.- Knowledge of chain supply for their products to the detail that quality can be ensure and traceability.
2.- Reduce the changes customer be affected for eating products that need to be recalled.
3.- Increase transparency of the information about Walmart`s products.
4.- How to ensure about the data submitted to the blockchain is true or accurate.
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The motivation behind Walmart investing in a blockchain solution is transparency of supply chain and food traceability.
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Quality of the products is monitored on blockchain to avoid risk for public health and safety.
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This new solution will save Walmart a lot of money and help to maintain good reputation among consumers.
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The missing piece was the immutability and traceability of the supply chain records and movements transparent to all parties involved in the process.
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- What is the motivation behind Walmart investing in a blockchain solution?
Not knowing what is the provenience of all the items it is receiving and not being able to identify a faulty product fast enough to avoid a calamity. - How will this new solution benefit us as customers?
The customers will have the assurance that the products come from verified suppliers that respect all the laws and regulations. By using a blockchain you can also be assured by the ingredients that have been used in certain products and their provenience. - How will this new solution benefit Walmart as a corporation?
It will inspire more trust in itâs products for their customers. It will help avoid shipping from untrusted sources that do not respect the laws and regulations. Help stop the spread of faulty products and identify the source in a much faster manner. - What was the missing piece in their solution before they found blockchain?
The missing piece was a shared forum where companies can see their transactions and develop trust between eachother.
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- They had a situation with contaminated food and want to avoid that in the future. They want better traceability.
- Provides transparency and traceability meaning that customers will get better quality foods now that the suppliers are aware that itâs easier for them to be liable if they donât do their part right.
3.Faster identification of contaminated food, increased customer satisfaction and retention. They will also avoid some big law suits.
4.Transparency between the supply chain actors.
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- What is the motivation behind Walmart investing in a blockchain solution? to create a more efficient, reliable process
- How will this new solution benefit us as customers? transparency of the entire distribution process
- How will this new solution benefit Walmart as a corporation? saving time and money, gaining trust and quality information and increasing product quality
- What was the missing piece in their solution before they found blockchain? Process transparency
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- What is the motivation behind Walmart investing in a blockchain solution?
A. The main motivation is to give their customers transparency of the supply chain network that will benefit customers as well as stakeholders as it can be tracked faster. - How will this new solution benefit us as customers?
A. We as a customer will get transparency in the supply chain and if there is any issue lie E.Coli, it can be tracked faster in seconds compared to days before. - How will this new solution benefit Walmart as a corporation?
A. Easier and faster to track supply chain, transparent and digital, cost effective, Quality of products can be delivered in a better way to name some benefits for Walmart. - What was the missing piece in their solution before they found blockchain?
A. Shared database that are transparent and fully digital that can be trusted by all the parties involved in the business.
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- What is the motivation behind Walmart investing in a blockchain solution?
âits helpful for tracking issues such as E. coli in produce so the buyer can track down which merchant sold infected goods - How will this new solution benefit us as customers?
âsince using blockchain reduces a 7 day search for tracing infected food sources to 2.2 seconds it significantly reduces the likelihood of a consumer getting sick from infected goods - How will this new solution benefit Walmart as a corporation?
âit saves them money, time, and spares them of crisis management with the public in the event of an infected food source - What was the missing piece in their solution before they found blockchain?
âefficiency was missing because the tracking of the supply chain of produce was a manual process as well as transparency in whether or not goods were safe for consumption
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