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Provide the retailer list of transactions indicating how meat has flowed through a commercial network, from producers to processors distributors to grocers and consumers.
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Get transparency due the complete track of consumer products.
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Benefits: gain trust and customer loyalty, control costs and effective tracking of the whole supply chain.
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The share space of trust due the transparency of transactions and tracks. The Blockchain between companies.
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- The Ecoli Romaine lettuce problem.
- By substantially reducing risk of infected foods, or if there is one, blockchain will make it easier to find the origin and therefor bring a fast solution to the problem.
- They will gain trust from consumers with more precise transparency throughout the company.
- Lack of trust in supply chain management,Inaccurate records
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What is the motivation behind Walmart investing in a blockchain solution?
Consumer Food Safety and transparency.
2. How will this new solution benefits us as customers?
Transparency about where and how a product came to be.
3. How will this new solution benefit Walmart as a corporation?
Eliminate intermdiaries, food waste, better manage of contamination cases and improve tracablity and transparency.
4. What was the missing piece in their solution before they found blockchain?
GFSI, the Global Food Safety Intitative where all Walmart global suppliers would have to adhere to.
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1.What is the motivation behind Walmart investing in a blockchain solution?
In so many words, being able to do business as usual by maintaining consumer confidence and supplier quality.
2.How will this new solution benefit us as customers?
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3.How will this new solution benefit Walmart as a corporation?
Having the necessary tools to track the flow of goods through a commercial
network (producers - processors - distributors - grocers - consumers) would not only mean consumers have more transparency about where and how a product came to
be, but Walmart could also trace and pinpoint the origins of food-related contaminations faster to prevent potential outbreaks.
4.What was the missing piece in their solution before they found blockchain?
A shared forum where companies can see each othersâ transactions and develop trust, rather than relying on earlier projects that solely used barcodes and radio ID tags.
(Information on farm origins, factory data, expiration dates, storage temperatures, and shipping, that is stored on the blockchain, makes fraud and inaccuracies much harder to get away with.)
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The reason is Walmart was unable to track all the food back to its roots efficiently and to make sure that they know when there are entities that could harm the safety of the food.
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Customers will trust more with the food products provided by Walmart and they have peace in mind as well.
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Walmart will be the among the first to apply blockchain and will have more trust advantage from their customers since other corporates donât have the blockchain system that provides more efficient system. Revenue will grow alot due to the technology implemented.
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Inefficient ways to track the food to the source and no transparency on the suppliers.
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Supply Chain - Reading Assignment
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What is the motivation behind Walmart investing in a blockchain solution?
Putting their entire supply chain for a certain product range on the blockchain enables them to trace the products they sell (or should take off the shelves) with greater speed and accuracy. -
How will this new solution benefit us as customers?
Customers will be able to get more insights into where and how the goods they purchase have been produced. Buying decisions can be based on verifiable quality of ingredients or working conditions along the supply chain rather than marketing. -
How will this new solution benefit Walmart as a corporation?
This solution makes it easier to comply with food safety standards and makes supply chain management faster and more efficient. It also provides an additional source of data that can be used to optimize business processes. -
What was the missing piece in their solution before they found blockchain?
There was no consistency in the data that the various parties in the supply chain recorded. A lot of different media and methods (e.g. paper, spreadsheets, tracking systems) were used which required a lot of manual processes in case something needed to be traced back to its origin.
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What is the motivation behind Walmart investing in a blockchain solution?
Walmart wants to run a food safety blockchain solution a requiring that all suppliers of leafy green vegetable for Samâs and Walmart upload their data to the blockchain by September 2019 to make the process more traceable, transparent and fully digital . -
How will this new solution benefit us as customers?
The source of food can be traced in seconds with the blockchain. That substantially reduces the likelihood that infected food will reach the consumer. -
How will this new solution benefit Walmart as a corporation?
Reduced costs, better quality and transparency -
What was the missing piece in their solution before they found blockchain?
Shared forum where all involved could begin to see each othersâ transactions and develop trust.
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What is the motivation behind Walmart investing in a blockchain solution?
To track each step of the supply chain to ensure each step is done correctly. To ensure transparency in each process. -
How will this new solution benefit us as customers?
Provides transparency and honesty in the process. Information stored on the Blockchain fraud are much harder to get away with, includes details related to farm origins, factory data, expiration dates, storage temperatures and shipping. Blockchain allows them to eliminate layers that exist today that add very little value to the industry. -
How will this new solution benefit Walmart as a corporation?
Trust from customers, cost effective, quality product, saves auditing time. -
What was the missing piece in their solution before they found blockchain?
A shared forum where companies could begin to see each otherâs transactions and develop trust.
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What is the motivation behind Walmart investing in a blockchain solution?
Make food more transparent, avoid chaotic circumstances, track bad food faster -
How will this new solution benefit us as customers?
Food is trackablbe from where it comes -
How will this new solution benefit Walmart as a corporation?
Products are safer, less time and cost intensive because now the information is shared between all -
What was the missing piece in their solution before they found blockchain?
lack of trust and consistent, information was spreaded over multiple pieces and plattform
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Most supply chains are bogged down in manual processes and this makes it difficult and time consuming to track down issues when any problem arises.
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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. That substantially reduces the likelihood that infected food will reach the consumer.
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Blockchain solution will help by making sure that food sold at Walmart is safe for consumption, and if there is a problem, making auditing the supply chain a trivial activity. Apart from increase in efficiency and productivity, Walmartâs will gain more trust from their customers which will translate to more return customers thus more revenue.
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The current model of one-step-up and one-step-back of food traceability was outdated for the 21st century. Blockchain solution solve the problem of traceability and trust especially from suppliers.
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Reading Assignment : Supply Chain (Answers)
- Health and well being of consumer.
- Transparency of product supply chain.
- Integrate blockchain for other issues. Modernization in network.
- Hyperledger Platform.
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1.) Motivation is to reduce the risk of food poisoning and being able to track and control product lines quickly to act on any adjustments to be made.
2.)
It will benefit us as customers as we will have more information available to as where it came from when it arrived ect and less risk of food poisoning .
3.) More cost efficiency, more trust, less risk to the public which increases there PR and reputation.
4.) Lack of transparency and Transactions which ultimately enables trust.
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- Digitized its supply chain and make more traceable and transparent
- A more transparent supply that could help in cases like health issues
- Increase the trace of food by several orders of magnitude
- Transparency and productivity in the supply chain on the producer side
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- A deadly form of e coli infected customers due to complicated food sourcing.
- Ensure consumer confidence with more transparency.
- Better control over their supply chains.
- A shared forum where companies could begin to see each others transactions.
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What is the motivation behind Walmart investing in a blockchain solution?
Through blockchain they want to bring all players involved in food chain together to collaborate on the one best way achieving traceability and transparent of food quickly and efficiently -
How will this new solution benefit us as customers?
Not only will the customer be able to trace the origin but also have full information on how the food was produced. This will help consumer make better decisions that fit their health preferences. -
How will this new solution benefit Walmart as a corporation?
- Cut down the tracing time from 7days to 2.2 second. Incase of food incident or issues they can protect the consumer as soon as possible.
- Gain more trust from their customers.
- Reduce cost associated with 3rd parties.
- Reduce inefficient in processing data.
- Better stock management.
- Better food system model that is safer, affordable, and sustainable.
- What was the missing piece in their solution before they found blockchain?
Information consistency. There way no way of communicating and sharing data across different systems no way of knowing what is happening in the food system.
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To make the process of tracking products much more efficient as the delivery of traditional methods was very time consuming and inefficient.
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Customers will have the ability to trace the product back to its origins. This provides the end customer with peace of mind when choosing a product.
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Their operation will now be able to perform more efficiently by reducing the time needed to verify each product and all information will be stored on the database.
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They needed an immutable database that was keeping updated in real time by a trusted system that could keep record of all products being shipped through the supply chain.
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What is the motivation behind Walmart investing in a blockchain solution?
Food safety. They wanted to track the path of food through the supply chain so in the event of a problem it could be quickly traced.
How will this new solution benefit us as customers?
More transparency regarding where food came from and how it was handled in the supply chain.
How will this new solution benefit Walmart as a corporation?
Helps protect the Walmart reputation and increase trust in the brand.
What was the missing piece in their solution before they found blockchain?
A shared forum with transparency so companies in the supply chain can see each others transactions building trust in the network.
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What is the motivation behind Walmart investing in a blockchain solution?
Be able to track their product origin along with the transparency that it returns -
How will this new solution benefit us as customers?
Customer will be able to know exactly the origin of the food they buy having more transparent supply chain , if its organic , when it was harvested , where does it come from , or if it is linked to any food intoxication -
How will this new solution benefit Walmart as a corporation?
Faster tracking of the food , which gives better and efficient information to the customers as well as keep them safe if any supply is infected -
What was the missing piece in their solution before they found blockchain?
The food supply chain was fully manual , which made slower and inconsistent
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Giving a form of trust to its supply chain all the way from producer to consumer
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A customer would be able to track the raw ingrediants of their food stuffs they source from wallmart (assuming they implement the system to their entire food chain) and have confidence in wallmart.
- trustless food sourcing they can show the consumer
- better tracking of their suppliers ensuring compliance with the relivant standards
- The ability to avoid supplying a product that could lethally harm their customers
- They lacked the ability to trust wether or not the goods they sourced were correctly perserved and stored, coupled with a common platform of record keeping.
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What is the motivation behind Walmart investing in a blockchain solution?
The motivation behind the Walmart investment in a blockchain solution is many. A few notable ones below
- Track and trace the details in their supply chain
- Supplier relationship management, to provide vendors/stores with transparency around where their orders are in the transportation chain
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How will this new solution benefit us as customers?
This new solution will benefit the consumer by providing full transparency to the entire supply chain process from end to end. No room for shading dealings or transactions anymore. More fairness to all. -
How will this new solution benefit Walmart as a corporation?
- Customer and Vendor trust, loyalty
- Accessible information across the global supply chain
- They will have more access to information from each entity involved in the shipping chain.
- Cost-effective for all involved
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What was the missing piece in their solution before they found blockchain?
The missing piece was that of transparency of transactions.
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