Blockchain Supply Chain App for Intelligent Track & Trace by Mary Hall
Blockchain technology offers greater transparency and a single source of truth for for participants using supply chain networks. Intelligent track and trace of orders, goods and delays via blockchain could expedite the sending and receipt of goods.
Today’s supply chains produce multiple data points often times resulting in thousands of daily transactions that need to be validated and confirmed.
While all this “big data” data presents opportunities, it can also be incredibly difficult to manage, especially if that data isn’t properly validated by all parties. The lack of validation can expose organizations to risk, especially if they are trying to track supply chain goods that are regulated by law. For supply chain tracking, blockchain technology offers some unique benefits.
- Traceability: Full audit tail of data throughout the supply chain
- Compliance: Single, timestamped, tamper-proof source of data
- Flexibility: Real-time rule-based verification of multi-party confirmations
- Reliable transactions: Trusted digital signature based peer to peer interactions
Intelligent Track and Trace on Blockchain for Supply Chain
Oracle’s Blockchain Supply Chain Application is designed to help organizations meet some of the business problems posed by supply chain networks.
In late 2018, Oracle announced a new suite of Blockchain Applications at Oracle OpenWorld. Since the announcement, Oracle has been closely collaborating with early adopters to gather their feedback to help design the Blockchain Apps. At MBX, March 19-21 in Las Vegas, Oracle experts will share aggregated learnings from their design partner engagements and take a deep dive into our first Blockchain Application Offering: Oracle Intelligent Track and Trace. Read the complete article here.
For regular information on Oracle PaaS become a member in the PaaS (Integration & Process) Partner Community please register here.