- Walmart seeks to use blockchain to establish a consensus between all members of a supply chain, in the past every point in a food’s destination was convoluted, handled on paper, and inaccessible. These solutions help to improve transparency which has a multitude of monetary and safety incentives for the food business.
- It will provide greater safety by tracking every point in a food supply chain to more quickly identify at-risk products, it will help bring us information with food labels and origin information, and it will make the supply chain cheaper which keeps prices lower.
- It will allow Wal-mart to more quickly trace problems and access information about handling practices in order to make their products safer, easier to find, and easier to manage.
- The missing piece was a ubiquitous online database that could be accessed by anyone and used by many different companies immutably.
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Walmart was motivated to invest in a blockchain solution, as a result of resource waste, lag time and traceability. They found paperwork accumulation per transaction was too wasteful and difficult to query. Product arrival time to consumer had too many constraints along the supply chain. Additionally, issue resolution is too extensive and time consuming.
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As customers the assurance of fresh, safe, and well attended too produce, as well as prompt timely services is beneficial to us. Transparency, as we will be able to query the journey of the products or services we purchase.
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The benefits Walmart as a corporation will enjoy, ranges from experience in using the new technology, in addition to the ability to explore new ideas for use cases. Traceability and transparency to be more specific. They will cut down on auditing time, as they arrive at solutions to issues along the supply chain.
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Walmart’s missing piece before blockchain was efficiency in saving revenue and minimizing waste. Hyper Ledger Fabric opened their eyes to possibilities that increases revenue by minimizing time along the supply chain. Allowing greater transparency with value trust (traceability) and the notion that time is money. Auditing a product was reduced from 7 days to 2 seconds, they found this revolutionary.
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What is the motivation behind Walmart investing in a blockchain solution?
To help prevent the disaster scenario like an outbreak. To track and pinpoint, where a disease or tainted foods came from. -
How will this new solution benefit us as customers?
It will ensure that our confidence in a given company continues. It will give more transparency about where and how a product came to be. -
How will this new solution benefit Walmart as a corporation?
If more people trust Wallmart, more people will buy their goods there, so they will get more revenue and also will there be less fraud and inaccuraces in the supply chain. -
What was the missing piece in their solution before they found blockchain?
The missing piece was a shared forum where companies could begin to see each others’ transactions and develop trust something like blockchain.
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- Walmart wants to have greater transparency and security to avoid instances such as the E-coli outbreak.
2.Customers have more confidence in the safety of the products they consume because they have a better idea of where the food came from
3.The new solution allows walmart to better detect fraud and inaccuracies that hurt their business - The missing piece was a shared forum where companies could develop trust
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- The blockchain solution will solve Walmart problem in the supply chain it makes the process more traceable, transparent and fully digital. Making it easier and faster chains and with much greater precision. Food safety.
- We will have better supply of food/goods on time in the shops and fresh food.
- Reduced time and cost.
- The length of time is too long to trace the source of food.
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What is the motivation behind Walmart investing in a blockchain solution?
Supply chain and tracking of their fresh produce to improve food safety. -
How will this new solution benefit us as customers?
Information is transparent and it is faster to track down if the produce a customer buys might have been contaminated with bacteria or disease. -
How will this new solution benefit Walmart as a corporation?
This will reduce business overhead for the manual processes and improve speed in processing information, especially when they need time critical information to be propagated fast to maintain the high food safety standard. -
What was the missing piece in their solution before they found blockchain?
Transparency in information was the missing piece
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- Faster, Cheaper, More reliable
- Being able to easily understand and track where your food comes from. provides peace of mind
- Reduce paper friction= more profits which in turn allows for more growth/ production throughput
- trustless system in which all parties could participated.
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What is the motivation behind Walmart investing in a blockchain solution?
Answer: Walmart sought to digitize the food supply chain process to make tracking down issues faster and more accurate. -
How will this new solution benefit us as customers?
Answer: It substantially reduces the likelihood that infected food will reach the customer. -
How will this new solution benefit Walmart as a corporation?
Answer: Before blockchain, tracking down the source of food took 7 days. With blockchain, it’s reduced to 2.2 seconds. -
What was the missing piece in their solution before they found blockchain?
Answer: Instant auditability / food traceability, lacking of a consistent platform to retain records, lack of accountability, and inability to act on information fast.
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The motivation for Walmart to invest in a blockchain solution was to eliminate manual processes, and make the supply chain process “more traceable, transparent and fully digital”.
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The new solution gives customers greater transparency.
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The new solution allows Walmart to speed up handover rates and quickly identify supply chain problems so that they can be swiftly solved, minimizing disruption and keeping revenue streams flowing.
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Before blockchain, businesses lacked a common ledger.
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**What is the motivation behind Walmart investing in a blockchain solution?**
Make tracking products shipped more secure, efficient and reliable.
** How will this new solution benefit us as customers?**
fresh, safe products
** How will this new solution benefit Walmart as a corporation?**
Having a full view on the processes. React fast in case of inproper quality
** What was the missing piece in their solution before they found blockchain?**
Papers weren’t talking to each other 
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What is the motivation behind Walmart investing in a blockchain solution?
To know everything about each product during whole supply chain process from productions till selling to final customer.
Also to be able to track down every item in case something is not okay. They can dont need to stop all products but only affected batch. -
How will this new solution benefit us as customers?
We can check that product is really whey told us it is. -
How will this new solution benefit Walmart as a corporation?
In case of problem they can easy find out where this problem is coming from. Eliminate invalid items fast and prevent possible further problems. This will gain public trust in company. -
What was the missing piece in their solution before they found blockchain?
Missing trust in other companies because theywere not able to see transactions of other companies. They needed this shared forum - blockchain.
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Reading Assignment: Supply Chain
Food safety. Primarily through traceable and transparent food supply chains and the reduction of manual work related to those goals.
Better food safety and increased transparency. Consumers can have more confidence that good are coming from where they say they are and that the food is safe.
Better food safety, increased customer confidence, reduced waste, as well as cost savings from eliminating manual work related to tracking food through the supply chain.
EDIT: The missing piece was a shared ledger where companies could see each others transactions along the supply chain.
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1.What is the motivation behind Walmart investing in a blockchain solution?
The food poisoning. By not knowing exactly where the food came from their business got a huge effect.
2.How will this new solution benefit us as customers?
We would be able to know where the food came from. And since its a BC we can trust the record.
3.How will this new solution benefit Walmart as a corporation?
They will have more trust from the consumer.
And also the process of the supply chain will be much smoother and faster.
4.What was the missing piece in their solution before they found blockchain?
Trust and easy access to papers shared in the supply chain.
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1 - because it is more efficient
2 - because the service is transparent
3 - will save money and time
4 - access to real-time information
- What is the motivation behind Walmart investing in a blockchain solution?
=> In an issue like the E. coli romaine lettuce it makes the process more traceable, transparent and fully digital, where it was a manual process. - How will this new solution benefit us as customers?
=> Reduces a trace the source of food from 7 days to 2.2 seconds, which reduces the likelihood that infected food will reach the consumer. - How will this new solution benefit Walmart as a corporation?
=> It benefits their customers and transform the food system to benefitting all stakeholders. - What was the missing piece in their solution before they found blockchain?
=> Having a quick control over complete chain to trace affected food.
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- To drastically improve on the tracking of products so as to ensure products are fit for consumption.
2)Transparency will allow the customer to check all kinds of information on products that would assure customers they are getting what has been advertised and that safety procedures have been adhered to.
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Accidents that could cause harm to customers can be avoided.
Old Customers will have more faith in Walmart products and as an early adopter of such tech, Walmart could expect an influx of new customers.
Efficiency is improved which will save on waste and in turn cost -
Trust was missing at certain checkpoints of the chain and a inadequate record keeping system.
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- Food safety and the traceability of food origins was a big motivation
- With blockchain they can trace the origin of food within 2.2 seconds (where traditionally it took 7 days) so that reduces the likelihood of infected food reaching the customer for instance
- More revenue because customers will favour Walmart as a preferred supplier because they can trust the food is safe
- The missing piece was that all the suppliers in the chain were not communicating with each other: each supplier in the chain had their own system, some still using paper, that did not communicate with other points in that chain.
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Efficiency
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Transparency
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made auditing the supply chain a trivial activity
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Looking at the data was very hard…
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- Food traceability therefore safety
- Will make sure all products are safe therefore edible
- Easier to track the food and the origin of the product
- Transparency and automation and security
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The motivation behind the solution was trying to improve the traceability of the food chain which had previously lead to deaths and illness due to contaminated food entering the food chain. Due to the very large and complex nature of modern supply chains tracking a product back to source takes a long time.
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The benefit to customer is the knowledge that food is produced via a safer supply chain which is more transparent and less likely to be subject to fraud or counterfeiting.
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The benefit for Walmart as a corporation is that goods in their supply chain will be inherently safer due to the existence of the blockchain traceability. In the event of any issues they can react quicker and would be able to quickly remove from the supply chain ONLY the items affected by the issue and all of the other unaffected product could safely remain on sale.
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The missing piece was the single shared and immutable storage solution that all parties can view in real-time and hence over time mutually trust the data it contains
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