Vottun > Business > Supply Chain

BLOCKCHAIN FOR SUPPLY CHAIN

Blockchain for supply chain is now a challenging and essential part of supply chain management industry. Vottun is committed to helping improving efficiencies across the supply chain management (SCM) value-chain. Many experts believe that blockchain for supply chain management technology can have an enormous impact on SCM processes as well as in general logistics. Presently, the bulk of the essential documentation and certifications in the SCM ecosystem are paper-based. Even digital copies of these paper documents are stored in centralized databases and unsecured file systems.

As a result, delays, thefts, and missing documents continue to be a lingering problem in the global SCM ecosystem. Imagine the improvement in confidence and trust with partners in the supply chain network with the implementation of a secured, transparent, permanent solution that could be the single source of truth for all SCM partners. This is what the Vottun project strives to offer with our blockchain solution.

Certificates that accompany production, inspection, delivery and any material movement can be recorded on the blockchain with Vottun.

HOW TO IMPLEMENT BLOCKCHAIN IN SUPPLY CHAIN?

From the point of manufacture to the point of sale, a product passes through many stages. Knowing the full history of a product is something that many consumers would value. Many consumers prefer to have product origin and history information at their fingertips in order to make an informed decision. Some product users genuinely want to know whether the manufacturers of a product use ethical standards in their productions and with their labor force. Others would like to know if the products are recyclable, eco-friendly, or biodegradable.

The different location where a product has been domiciled through its production cycle contains many of this relevant information. Current non-blockchain practices do not make this information immediately available and accessible to consumers. Production history data is useful and valuable to consumers when it is immediately available upon request and is transparent and trustworthy. All of the important information about the production cycle of a product can be easily stored in a blockchain transaction with Vottun smart contracts (blockchain for supply chain management). Consumers at any store or outlet can easily verify the product origin and history from their mobile device with Vottun.

Vottun Supply Chain Usecase 2

HOW BLOCKCHAIN WILL TRANSFORM THE SUPPLY CHAIN INDUSTRY?

Supply Chain Management systems, for the most part, have great opportunities for improvement. Vottun is committed to replacing the paper and poorly-secured digital documentation standard with a robust blockchain for supply chain management paradigm that boosts efficiency, trust, and transparency. The Vottun project will leverage the power of the immutable ledger to provide trusted-tracking services for products along the supply chain. We believe that this will solve many current issues with trust, transparency, and help to create more efficient processes.

One significant advantage of the Vottun approach to SCM and general logistics is the use of smart contract protocols. SCM is a step by step process where the execution of one step leads to the initiation of the next in the sequence. Each movement of materials will be record as a separate step within the supply chain process and recorded as a separate event on the blockchain by Vottun.   Smart contracts are utilized to record the event and the related details of the material movement.  These events are tied back to the product bar code or QR code and are visible to members of the ecosystem on the blockchain.  The recording and verification of each step in the process on a distributed ledger that is transparent to all parties and is immutable creates a trusted single source of truth, enhancing trust within the supply chain network.  This helps reduce issues with disputes and minimize the need for dispute resolutions between partners in the network.

The Vottun project is designed to offer tracking and traceability functions to both SCM and general logistics. Our blockchain supply chain solution provides value for producers, freight forwarders, and final consumers. Trusted encryption is one of the backbones of the blockchain technology and Vottun utilized top grade encryption to deliver premium, secured, SCM and genera logistics solutions.

BLOCKCHAIN IN SUPPLY CHAIN CERTIFICATE OF AUTHENTICITY

At the heart of SCM and general logistics are the certificates that accompany production, inspection, and delivery. The certifying documents are a seal of quality and adherence to statutory standards and regulations. The Vottun ecosystem provides a means of storing these crucial documents on the blockchain and issuing them when needed. Vottun generates and stores unique certificates permanently on the blockchain in supply chain to record each transactions.  The documents are searchable and accessible via any mobile or web devices by partners with the proper authorization to view and inspect these documents

The Vottun project certification authentication protocol isn’t only limited to interactions among academic certificate holders, schools, and corporate body. We recognize that our solution is multi-layered and as such, are committed to fully exploiting all the areas of applicability of our technology.

WHAT’S NEXT 

If you are in supply chain or you have customers in supply chain, and would like to explore if blockchain is the right technology for your particular use-case, we recommend you to contact us so we can help you arrive at a meaningful business concept.