- It reduces the time to track where a product has come. From 7 days to 2.2 seconds
- Less likely to have products sent out because of the fast tracking of the traceability
- There will be less products and time waisted when a food problem arrives
4.The traceability of a product and how other tracked their products didn’t always work with each other
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What is the motivation behind Walmart investing in a blockchain solution? --> Provenance. They want to track the leafy vegetables from source to consumer.
How will this new solution benefit us as customers? --> If there is an outbreak of Ecoli or other harmful bacteria, using the blockchain, we can trace the source back to the farm in a quick manner.
How will this new solution benefit Walmart as a corporation? --> Reduces likelihood of bad veggies reaching customers, increases Walmart’s brand quality value & makes it cheaper for Walmart to trace issues when they do happen.
What was the missing piece in their solution before they found blockchain? --> They did not have a single DB/location where they could trace veggies back to the farm as it went through multiple companies with their own solution (used to take 7 days vs 2.2 seconds now)
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What is the motivation behind Walmart investing in a blockchain solution?
To trace issues quickly. -
How will this new solution benefit us as customers?
Reduces risk of infected food reaching the consumer. -
How will this new solution benefit Walmart as a corporation?
Food quality assurance and transparency so consumers know where their food comes from and that it meets the Global Food Safety Initiative. -
What was the missing piece in their solution before they found blockchain?
There was inconsistent use of paper to Excel to ERP systems used by the suppliers to upload data.
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- What is the motivation behind Walmart investing in a blockchain solution?
There was a problem with the spinach that was delivered in different locations, 3 people dies and people were afraid to buy spinach for few months. This was due to the lack of information about the supply chain of the spinach and the slow tracking of the problematic products which caused huge consequences. - How will this new solution benefit us as customers?
The new solution will bring more transparency to the supply chain of food and make the problematic food traceable. - How will this new solution benefit Walmart as a corporation?
It will make sure they always have fresh food which is delivered on time and in case there is a problem with some food it will be traced and stopped much faster in order not to cause bigger consequences. - What was the missing piece in their solution before they found blockchain?
They missed a technology that has transparency and can be accessed by participants with different authority levels.
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Walmart is investing in a blockchain solution to prevent outbreaks of diseases coming from foods they sell.
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The blockchain solution will benefit customers as they get more transparency about where their food comes from.
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The blockchain solution will benefit Walmart as customers will have more confidence in buying foods from Walmart.
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The missing piece in Walmart’s solution was a shared forum between the various parties involved in the supply chain to increase transparency and trust. Blockchain is this missing piece.
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- Transparency, Tracking, Where the product came from, and identify the origin if there is any issue and control the spread fast.
- Transparency to the Customers
- It can provide better costumer satisfaction
- Trust across the network and track the entire supply chain.
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What is the motivation behind Walmart investing in a blockchain solution?
For all stakeholders have transparency of data or information. -
How will this new solution benefit us as customers?
we are able to trace the source of the food products that is available on the market. -
How will this new solution benefit Walmart as a corporation?
This builds public trust and transparent that they are able to monitor their food products a long the way. -
What was the missing piece in their solution before they found blockchain?
They lacked a common database that is shared to all stakeholders.
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- What is the motivation behind Walmart investing in a blockchain solution? was to quickly track diseases that are found in foods and know what supplies are contaminated.
- How will this new solution benefit us as customers? more transparency in the food chain and easier to stop disease from spreading
- How will this new solution benefit Walmart as a corporation? they can make sure health guidelines are being adhered to.
- What was the missing piece in their solution before they found blockchain? being able to trace the data is a timely matter
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What is the motivation behind Walmart investing in a blockchain solution?
They want to deliver safe products for the consumers.
Before implementation of blockchain solution, it takes them seven days to identify the source of the food’s contamination. Now it only takes them about two seconds. This move has definistely inspire confidence in the consumers that what they are taking is definitely sure. -
How will this new solution benefit us as customers?
What we are taking are definitely safe. Contaminated food will be removed from the shelves even before we buy them. -
How will this new solution benefit Walmart as a corporation?
Inspire consuemers confidencen and trust that the food they purhcase is definitely safe, thus resultig in more customers and revenue for them. -
What was the missing piece in their solution before they found blockchain?
They don’t have real-time information of all the parties who are involved in the supply chain. Before blockchain, all records are done using paper work, which makes it harder to retrieve when they need it urgently.
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- Walmart’s motivation for blockchain is ensuring food safety through tracking and tracing the origin of the food supply.
- The customers can check where the origin of their food, ensuring trust in what they eat.
- This process improves efficiency for the corporation and reduces costs.
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- It allows them to more quickly and accurately identify problems in the supply chain. For example a consignment of products in poor condition.
- Knowing that the method is faster to identify problems in the supply chain, it gives us security and confidence knowing that what we are going to consume is suitable for consumption and free of contamination or diseases.
- Eliminate existing layers in the supply chain. Add better contamination case management and improve transparency.
- Trust and transparency.
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- To improve traceability of food supply chain, to help identify source of food borne illness outbreaks
- Reduces the time to source origin of contaminated food, and allows Walmart to more effectively stop those foods reaching customers
- It will give customers trust in the produce coming from Walmart, which is good for business. The new system will also save Walmart time and resources going into determining outbreak origins
- Transparency and trust
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- The motivation behind Walmart investing in a blockchain solution is consumer confidence in food supply.
- It will surely benefit us because it will eliminate a lot of bad actors in the space, and ensure transparency in the processes that lead to food that we eat.
- This solution will benefit Walmart as well because if there is confidence in the goods on the part of consumers, business will not be hindered.
- The missing piece in their solution before they found blockchain is the shared forum where companies could see each other’s transactions and develop trust.
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- What is the motivation behind Walmart investing in a blockchain solution?
Walmart had the goal to make the supply chain process digital to make the process more transparent and traceable. The biggest motivation was to be able to quickly trace back to the source of a problem within the supply chain in case a problem occurs. It allows Walmart to quickly identify sources of inefficiencies in the process and increases the accountability of each of the entity involved in the process.
- How will this new solution benefit us as customers?
As a customer, the benefits would be increased safety related to food quality because a transparent and traceable supply chain process would make it possible to quickly trace down the source of potential supply that is of low quality or even harmful to the customer who consumes the final product. Furthermore, a transparent supply chain would allow the customer to verify the source of the product ingredients, checking the origin of the ingredient as well as the conditions under which the ingredient was produced. Consumers who are very sensitive about the origin with regard to specific standards (labor conditions / human rights, sustainable production process, etc.) could use the data stored on the blockchain to verify these points. All in all, the benefits of this solutions are higher transparency and traceability of the supply chain process, which increases the accountability of all entities involved and provides the end consumer with more verifiable information about the final product.
- How will this new solution benefit Walmart as a corporation?
Using this blockchain solution, Walmart can analyze its supply chain and identify and eradicate paint points or streamline processes that benefit the overall supply chain and therefore also Walmart itself (e.g. faster transactions and shipment, lower costs). Walmart can also more quickly track down sources of supply that are harmful to the end consumer and it is also easier to identify the entity responsible for the supply of harmful ingredients. This allows Walmart to advertise this higher level of food quality/security as a competitive advantage. Furthermore, Walmart can use this solution to establish a good public image. Instead of simply claiming that all the suppliers adhere to at least one Global Food Safety Initiative, Walmart can use the blockchain to actually verify this claim.
- What was the missing piece in their solution before they found blockchain?
The missing piece was the absence of a shared ledger where all participants of the supply chain can share and access information relevant to the supply chain process.
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1)It was difficult and time consuming to track down issues.
2)It allows Wal-mart to track down problems much faster, reducing the likelihood customers receive contaminated food.
3)It will save Wal mart time when tracking down issues within their supply chain.
- The missing piece was the ability to track and trace issues quickly.
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What is the motivation behind Walmart investing in a blockchain solution?
After being faced with food contamination in its supply chain, Walmart saw the need for a method to make it more traceable, transparent, and fully digital. The solution they recognized was setting a supply chain on the blockchain. In this way, if the problem should arise once again, they would quickly source the issue. -
How will this new solution benefit us as customers?
Blockchain will strengthen consumer confidence because food quality will be associated with a translucent and verifiable supply chain process. -
How will this new solution benefit Walmart as a corporation?
They will have the tools for analyzing the whole supply chain and trace the source of foods faster and better, adding more transparency benefiting all stakeholders. -
What was the missing piece in their solution before they found blockchain?
The missing piece was a shared platform where companies could see each others’ transactions and develop trust.
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By placing a supply chain on the blockchain, it makes the process more traceable, transparent and fully digital.
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If there was an issue with the food before the blockchain integration is took 7 days to trace the food source. With blockchain it took 2.2 seconds. That will reduce the likelihood that infected food will reach consumers.
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It will build trust because of safety and transparency
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Data not being shared between participation on the supply chain.
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- **What is the motivation behind Walmart investing in a blockchain solution?Need for trustless Intergrity, Accuracy, visibility about products, raw materials, storage and transportation journey through he supply chain, from farm to store display and sal/checkout
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How will this new solution benefit us as customers?
Safety, accuracy and transparency of information and quick/identification of product especially during infection detection tracing and resolution. -
How will this new solution benefit Walmart as a corporation?
Their integrity as a reliable and trusted supplier -
What was the missing piece in their solution before they found blockchain?
Trustless accuracy
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To shine light on the origin of their consumable products so that consumers feel safe to consume and purchase their Walmart goods.
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Customers will know exactly where and how the products that they purchased are sourced so they can feel assured about their physical health since knowing where your consumable goods are from will help consumers be aware of whether the concerning product originates from a dangerous source or not.
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Walmart will be able to save lots of money by separating dangerous consumables from safe consumables within the same product category. This also allows Walmart to continue selling the safe variants by providing transparency on where the food was sourced.
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The missing piece was “a shared forum where companies could begin to see each other’s transactions and develop trust”.
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- source traceability made faster via blockchain
- transparency of the products
- cost efficiency and faster access to shipping information
- Transparency of transactions which also enable the development of trust.
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