Implementation of blockchain technology is going on with Coca Cola’s bottlers in other to manage their cross-party transactions.
Coke One North America (CONA) — the tech firm which undertakes the management of IT operations for the soda giant’s bottlers is using a blockchain solution developed by German software firm known as “SAP” to manage its supply chain. This was revealed by a Business Insider report on Nov. 5.
According to the report, CONA manages a platform to enable them oversee multiple franchises that manufacture, bottle and ship nearly 160,000 orders of Coca-Cola products daily. The senior manager of CONA, Andrei Semenov, told Business Insider:
“There is the need for us to save some money and improve on many transaction processes that doesn’t go down well for our purpose. A lot of delays as a number of transactions that are cross-companies and multiparty that are inefficient. They go through intermediaries making transactions very slow.
CONA is set out to reduce the duration of order-reconciliation from 50 days to just a few days using blockchain.
The different bottlers on the network, which generates over $21 billion in revenue per year needs to be efficiently handled by an inter-organizational, transparent distributed ledger that will give real-time insights into the transactions made.
Semenov listed out how a decision was reached regarding the extent and nature of the data meant to be shared between franchises, as he says thus::
“We had negotiations and discussions, to reach a consensus of what data we wanted to share. We started with a huge list of data attributes, and we narrowed it down to the list that everybody agreed on.”
More popular Companies turn to blockchain
The retail giant Walmart has long been using IBM’s blockchain technology for various types of supply chain management applications, the most recent one being its seafood imports from India, according to reports.
Walmart has since pursued several blockchain-related patents and trials which includes tracking meat in China, live food, delivery drones and patenting smart deliveries in the United States. It has also implemented VeChain’sThor blockchain to track food in its supply chain in China.
Aside having began its collaboration with IBM on a blockchain-based system that could identify and flag recalled foods back in 2016.
Multiple international coffee companies has partnered with Farmer Connect to use the IBM Food Trust platform and collaborate to develop an app that provides consumers with provenance and pricing data about coffee products. It was done in September this year.
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Credits: Marie HuilletJOIN OUR COMMUNITY