Supply Chain - Reading Assignment

Blockchain Business Course
#602

  1. To increase confidence and trust with the consumers through the supply chain code.

  2. Increases trust tremendously as it enables us to track and verify the origins of all products that come through the company.

  3. Narrow down searches a lot quicker and easier when a possible defect is found in products + increases trust between seller and buyer.

  4. A “shared forum where companies could begin to see each others’ transactions and develop trust”.

1 Like
#603
  1. What is the motivation behind Walmart investing in a blockchain solution?
    –> Promote transparency, make the process faster and more reliable food traceability wise.
  2. How will this new solution benefit us as customers?
    –> Increasing the food safety.
  3. How will this new solution benefit Walmart as a corporation?
    –> Decrease operational costs and improving the Walmart’s reliability image for customers.
  4. What was the missing piece in their solution before they found blockchain?
    –> Lack of transparency among suppliers and Walmart.
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#604

  1. To reduce the time taken with supply chains passing on data via manual processes.

  2. Consumers will finally have more transparency on where and how a product came to be. For example, vegan consumers will be able to verify for themselves that their goods are in fact vegan sourced.

  3. Walmart will improve their quality control. Blockchain technology will enable them to trace food in ≈ 2 seconds, which greatly reduces the chance that spoiled food reaches consumers.

  4. A shared forum where corporations could begin to see one other’s transactions and build confidence was the missing piece.

1 Like
#605
  1. What is the motivation behind Walmart investing in a blockchain solution? Track their supply chain closer in regards to food safety
  2. How will this new solution benefit us as customers? Provide the consumer with better information on the product they are purchasing
  3. How will this new solution benefit Walmart as a corporation? Reduce time, cost and risk
  4. What was the missing piece in their solution before they found blockchain? Trust
1 Like
#606
  1. The motivation behind Walmart investing in a blockchain solution is because it represents a substantial improvement over earlier projects that solely used barcodes and radio ID tags, to track how food products flow through a commercial network, from producers to processors to distributors to grocers and finally, to consumers. The blockchain was the missing piece, as it created a shared forum where companies could begin to see each others’ transactions and so allow trust to develop between them.
  2. This new solution benefit us as customers as it creates more transparency about where and how a product came to be; and hopefully such a system could help prevent food poisoning scenarios such as the E. coli tainted spinach and lettuce incidents.
  3. This new solution will benefit Walmart as a corporation by greatly increasing the confidence of all their customers in their prioritising of food safety, resulting in increased sales and thereby profits.
  4. The missing piece in their solution before they found blockchain was providing the retailer with a way to indelibly record a list of transactions indicating how food products flowed through Walmart’s supply network. By storing information on the blockchain, fraud and inaccuracies are much harder to get away with, including details related to farm origins, factory data, expiration dates, storage temperatures, and shipping.
2 Likes
#607

What is the motivation behind Walmart investing in a blockchain solution?

  • The triggering point was when consumers where food poisoned by vegetables sold by Wlamart, and it was very cumbersome to find the source of the problem as well as to ensure this would not happen again.

How will this new solution benefit us as customers?

  • Customers will first of all be certain that all food can easily be withdrawn if anything would occur, and we can also see the origin if Walmart offers that interface.

How will this new solution benefit Walmart as a corporation?

  • Any issues of any kind can be traced within seconds and the administration and time spent in every transaction between parties will decrease.

What was the missing piece in their solution before they found blockchain?

  • They did not have a unified system and and thus not any place to actually analyse all information. Using the blockchain they now have a common database where all info is stored.
1 Like
#608
  1. What is the motivation behind Walmart investing in a blockchain solution?

Food safety.

  1. How will this new solution benefit us as customers?

Every step of the products’ journey is traceable and accountable. this shows customers the producers are on top of it.

  1. How will this new solution benefit Walmart as a corporation?

Total overview of production, implementation and execution of predetermined standards. No corners cut

  1. What was the missing piece in their solution before they found blockchain?

A shared forum based on “trust”

1 Like
#609

  1. To be able to track how food was produced, processesed and how it was distributed to the end client for more transparency and reliable data.

  2. We will know how and were the food was produced, how long it has been in transit and we can also track how the food has traveled to reach the end client. For more secure, efficient and reliable data.

  3. It will provide more credability to the company and also a way to track down contaminated food items faster. This will increase the trust for the company.

  4. It was difficult to track and provide information about their products to the customers. With blockchain they can provide transperancy with information that will increase the trust.

1 Like
#610

  1. What is the motivation behind Walmart investing in a blockchain solution?
    Supply chains currently rely on manual processes and tracking quality related issues is difficult and time consuming

  2. How will this new solution benefit us as customers?
    The process by which the food or consumable goods make its way to the Walmart shelf will be transparent and traceable

  3. How will this new solution benefit Walmart as a corporation?
    Walmart will be enable to ensure that its suppliers are following the proper ethical standards and promise its customers that all of its goods possess the proper traceability and accountability

  4. What was the missing piece in their solution before they found blockchain?
    All of the suppliers maintain different systems and modes of preparing and submitting information, from paper-based to excel to sophisticated ERP systems. Now they can all input via the same simple method and the blockchain can store and manage the data consistently

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#611

  1. Main motivation for Wallmart was to improve model of food traceability and update it to nowadays technology possibilities.

  2. Customers will gain more detail information about the product they purchase (if there will be app for clients as well, didn’t see info here, for instance VeChain does have such a solution on chinese market, where clients may trace the product back way to a producer).

  3. Benefits for Wallmart as a corporation is redusing time of finding a potential mistake. As is written in article, the time has been reduced from 7 days to 2,2 sec when it comes to find a “spoiled element” in a supply.

  4. What was missing before blockchain was an immutable database, that is fast and easy to track information from a supply chain and is accessable by all interested parties.

1 Like
#612

[quote=“filip, post:1, topic:6393”]

  • What is the motivation behind Walmart investing in a blockchain solution?

To allow food items to be traced as they move through the supply chain thus enhancing trasparency.

  • How will this new solution benefit us as customers?
    It will prevent fraud and inaccuracies in the supply chain.

  • How will this new solution benefit Walmart as a corporation?

It should reduce paperwork and increase efficiency in addition to improving traceability and reducing inaccuracies and fraud.

  • 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

1 Like
#613
  1. A need for a blockchain solution anywhere can be based on the following aspiraions:
  • more secure and trustworthy data
  • data where changes made are visible and transparent i.e. immutable (you cannot just delete some old record by accident or intentionally and replace it)
  • data where no third party is necessary and it can speed up the process
  • quite simply I guess they were interested in new solutions and technology and how to apply them to stay on top of the market

  1. It is possible that data will be retrieved and prepared faster (no third party) and with less errors (immutable/ transparent). The data will be more transparently and clearly available to partners involved in the network with access to data.

  2. Any company looking for a new competitive edge to perform internal processes can benefit, it can have the advantage of being the first if this technology finds it way into everyday life. Gaining customer / partner trust and approval this way can benefir the reputation of the company, attract more customers and partners. Less scandals and rumors about data and product sources improves the image, as does the data transparency overall.

  3. I think working with such a large and various partner range means that you have to standartize and control them in terms of what data and in what format they provide. You have to find a solution that works for everyone but also for your own company. If there is a way to simplify the process and improve data quality - go for it. The missing piece was data variety and possibility of error.

1 Like
#614

  1. Walmart was motivated to use a blockchain solution in the digitalization of their supply chain process; also to achieve transparency and traceability - provide the retailer with a record of all transactions indicating how the food products flowed through a commercial network.

  2. Customers have certainty as to the “safety” of food purchased from Walmart as there is some level of traceability with regards to where the supplies came from.

  3. Walmart benefits from this in the sense that they are able to trace the sources of food much faster and substantially reduce the likelihood that infected food will reach customers, hence providing better service to their customers.

  4. They lacked a full view of what was happening in the supply chain; where the products have been and how they where handled. Also they didn’t have a consistent record of all transactions by entities in the supply chain.

1 Like
#615

  1. Walmart wants to ensure food safety by having a traceable tracking system that can pinpoint possible outbreaks and their extent more efficiently. The blockchain system can also solve other supply chain issues as it brings the advantage of traceability and transparency.

  2. Consumers can feel confident in knowing where the food is sourced from and thus there is more trust in the safety of the product.

  3. Walmart can ensure customers are getting safer products that been sourced appropriately. Walmart can also quickly track and eliminate hazards in the supply chain due to the traceability of the blockchain ledger.

  4. The missing piece was a shared forum where companies could begin to see each others’ transactions and develop trust. Thus they could trust each others’ products and can give that gurantee to their respective customers.

2 Likes
#616
  1. Speed, security, efficiency.
  2. Easier to track if food is infected for example.
  3. Reduce time and costs, improve safety.
  4. Transparency and lack of trust.
1 Like
#617

  • What is the motivation behind Walmart investing in a blockchain solution?
    preventing disaster scenarios, increase trust, improve quality

  • How will this new solution benefit us as customers?
    through more transparancy trust will increase

  • How will this new solution benefit Walmart as a corporation?
    quality of their products will improve, avoiding problems, reducing costs.

  • What was the missing piece in their solution before they found blockchain?
    the ledger that can be created by the blockchain, where involved parties can see transactions and build trust.

1 Like
#618
  1. What is the motivation behind Walmart investing in a blockchain solution?

To gain customers confidence by being transparent about where and how a product came to
be.

  1. How will this new solution benefit us as customers?

Safe food.

  1. How will this new solution benefit Walmart as a corporation?

Attracts more customers as they would feel safe to purchase from Walmart, where every step of sourcing food is traceable and transparent.

  1. What was the missing piece in their solution before they found blockchain?

The lack of trust

1 Like
#619
  1. What is the motivation behind Walmart investing in a blockchain solution?
    To give consumer better piece of mind with product and greater transparency by being able to track how food was produced, processed and distributed to the end client. Documenting this on the blockchain means that if a outbreak occurred in the food market, Walmart could efficiently identify the problem.
  2. How will this new solution benefit us as customers?
    We now have access to efficient and reliable data because of the immutable ledger blockchain. Because of the visible supply chain, we now know where the food was produced, the transit time, and its transportation type.
  3. How will this new solution benefit Walmart as a corporation?
    Provide more credibility to company, make consumers have piece of mind, and be able to get on top of food contamination outbreaks faster. This increases trust for the company.
  4. What was the missing piece in their solution before they found blockchain?
    The missing piece was a shared forum where countries could see each others’ transactions (aka blockchain) and develop trust.
1 Like
#620
  1. Walmart was motivated after an E. Coli breakout put many of their customers in danger and they wanted a simpler way to audit their products safety in a more efficient manner.
  2. This solution will make the food handling process more transparent in order to prevent such dangers from entering the marketplace.
  3. This new solution will give Walmart more confidence in the safety of their products and provide more data to track their products.
  4. The missing piece was a way to track their supply chain in digital format.
1 Like
#621

  1. to track the supply chain to provide the consumer all the information of the product for a safe consumption.

  2. Customers will have access to all the supply chain, all that have been used to produce the product they are buying at the market. The access to the information in a simple and fast way.

  3. It will reduce cost and time to trace the supply chain of each product. Also make it trust the provider of the information.

  4. A shared forum where companies can see all the information, transactions, to create trust.

1 Like