One of the biggest features of Blockchain technology is traceability. We can also talk about decentralization, immutability, security … What we often need is to land as these characteristics can help the business sector to improve its existing processes.
We are immersed in a time where we are all beginners of technology because it advances so fast that it is difficult to be up to date and take advantage. Technology advances at a dizzying speed and businesses at a cruising speed, the bigger the slower.
You know that we have been talking about traceability for some time, where it makes sense to replace several mechanisms of current technologies with others such as, in this case, Blockchain. Let’s see first hand why Coca-Cola has decided to implement this solution to its supply chain.
We talk about a supply chain with many franchises, with valuable information crossing from one place to another at all times and where intermediaries play a fundamental role.
In this case, Coca-Cola together with the company Coke One North America (CONA) established a pilot program to try to integrate the Blockchain technology in this company together with SAP (world-renowned German software company), obtaining very interesting data regarding saving time in the execution of processes and the availability of information.
CONA supervises 160,000 Coca-Cola products daily and with Blockchain technology it is possible to certify that the order has been produced, shipped and paid in a few days, when it was months before obtaining this information.
“There are a number of transactions between companies that are inefficient. They go through intermediaries; they are very slow. And we feel we could improve this and save some money,” said Andrei Semenov, CONA Manager.
How important it is for a company, first, to obtain all its traceability information with new technologies in real time, second, to save time in the processes and therefore costs and, third, to build trust both within the companies involved and the consumer end of the complete product process.
One of the phases of this implementation is the possibility of sharing information between the companies involved. This would sound to any company to reveal internal data, so it would normally be viewed with suspicion. Well, how have you solved this problem?
They have created forms with certain points where all companies will agree to provide a series of data that help the common good, in this case to the Coca-Cola supply chain, through permits, establishing a common data synergy. which makes it possible to eliminate the importance of intermediaries and make a much more efficient process.
This type of implementations is what we do from our application GENESIS 4.0 and that every time we will see more since in many cases, not in all, it allows to create an agility never seen before.
We know that Pepsi is also in a pilot program trying to adapt the blockchain to its supply chain and the ability for payments to be made alone through cryptocurrencies in a secure and time-traceable manner among its participants.