Challenges faced by the supply chain industry

Insufficient security
Insufficient security

Improper level of security might result in data thefts and counterfeit consignments. According to the Symantec global cybersecurity company, in 2017 the number of supply chain cyber attacks increased by 200% compared to the previous year.

Maintenance costs
Maintenance costs

Administrative and transportation tasks take time and money, which affects the overall efficiency and productivity of supply chains. As Marketwatch states, in 2017 alone, Amazon spent $21.7 billion on shipping.

Lack of trust
Lack of trust

With many participants in complex supply chain networks, the question of trust between network members — suppliers and producers — becomes urgent in following production requirements.

Origin tracking
Origin tracking

Large enterprises have difficulty tracing all the elements in their complex supply chains and maintaining records; lack of transparency leads to money and reputation losses.

Access issues
Access issues

Companies that have large databases struggle with the necessity of constant access to real-time information from any location, at every point of the supply pipeline.

Central authorities
Central authorities

Parties involved in the same supply chain usually have siloed data systems, which complicates their interconnection and delays processes.

OLWAY Centaur
OLWAY

Meet OLWay: a blockchain-based solution for supply chain, logistics, and IoT

OLWay is a platform where you can connect with your clients on a decentralized network, store supply-related info in an immutable database, and integrate with IoT sensors for tracking shipping data (temperature, humidity, barometer, luminosity) all the way to the destination.

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Centaur

Internet-of-Crops Platform:
an IoT-based solution for tracing cereal supplies

Aetsoft implemented blockchain technology in Centaur AG’s Internet-of-Crops Platform, an agriculture logistics solution for tracking the provenance of crop supplies. Every asset in a supply chain is connected to IoT trackers and has a unique ID recorded on an immutable, hack-proof distributed ledger.

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Blockchain solutions for supply chain from Aetsoft

Decentralized network

Thanks to the distributed ledger technology, all parties in the supply chain have access to the same data. A majority consensus manages any data alterations.

Transparent transactions

Blockchain keeps each record linked to connected sensors with unique and unchangeable identifiers, which allows tracing the entire history of each asset from the moment of production.

No intermediaries

Smart contracts can automate various tasks traditionally requiring human involvement as well as remove middleman, making supply chain management more cost-efficient.

Trusted environment

Blockchain keeps a permanent record of all supply chain histories, guaranteeing tamper-proof digital document trails and building trust among network participants.

Secure operations

Cryptographic keys protect every piece of data, with any corruption attempt immediately visible to the entire network. Private blockchains allow setting separate permissions.

Interoperable networks

Blockchain connects suppliers, distributors, manufacturers, and retailers in a single ecosystem where all parties have access to the same data.

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Blockchain applications in supply chain

Proof-of-provenance

Use case 1. Proof-of-provenance

Currently

Data fragmentation leads to inadequate provenance tracking in supply chains, where shoppers are unaware of the quality of products they purchase.

With blockchain

Blockchain keeps a permanent record of all parties involved in a supply chain, with the origins data transparently visible to consumers.

improve processes with Blockchain
Detecting contamination

Use case 2. Detecting contamination

Currently

Insufficiently regulated nature of today’s supply chains makes room for contaminated foods paving their way to shop shelves — if not validated promptly.

With blockchain

Blockchain establishes a network where all supply chain parties verify food quality against mutually agreed quality standards from the moment of origination.

improve processes with Blockchain
Secure transactions

Use case 3. Secure transactions

Currently

Deals between businesses and suppliers are usually not backed by compliance guarantees; parties might not pay in due time, or fail to fulfill payment commitments.

With blockchain

With blockchain-enabled smart contracts, supply chain partners can conduct deals without even trusting each other; code-dependent smart contracts will trigger actions strictly upon meeting agreed terms.

improve processes with Blockchain

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