Blockchain technology has been making the news lately through its implementation in Bitcoin. The food industry is looking at this technology to track items as they move through the supply chain.
The intent is to create transparency in the supply chain. As proof of concept, IBM worked with Walmart to track pork from China, and mangos in the United States. Before the blockchain test, it took Walmart 6 days, 18 hours and 26 minutes to trace a shipment of mangos back to its source.
With blockchain, it took 2.2 seconds.
Blockchain technology is a chain of blocks of information. These blocks are stored on an open shared ledger through a distributed computer network. Once the block is recorded it is extremely difficult (almost impossible) to change thus providing security to the system.
This post is based on the Progressive Grocer article, Grocers Embrace Blockchain in New Era of Transparency, by Jenny McTaggart, February 16, 2018.
1. What advantage does blockchain provide to the supply chain?
Guidance: The obvious advantage is the ability to quickly trace an item back through the supply chain, as in the mango example in the Continue reading