It seems everyone wants to taste the Blockchain technology for their project. Recently, the most popular brand, Coca-Cola has stepped into blockchain technology as its IT firm who looks after the bottle manufacturing supply chain process gets into it. On Tuesday, Coke One North America (CONA) talked about it and designated it as a pilot project with software provider SAP who is now going to get expanded from 2 to 70 of the manufactures that cater about 160,000 bottles of Coca-Cola shops on daily basis.
Blockchain is a hope to improve distribution for participants
Blockchain project aims at improving distribution for the participants, wherein all the manufactures can take access to a permission blockchain that holds the information about each other orders, capabilities and requirements. For instance, if a bottle maker is short of stock for an alarming order, then, the network will quickly provide options to fill the gap and complete the order. CONA told BI that it is expecting to reduce order reconciliation from weeks to just days.
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The Senior Manager of CONA told BI that there are plenty of transactions that take place across the companies and multi-party that are not efficient, they go through intermediaries and are slow. Therefore, the requirement of improving this can help in saving money and time.
Positive results of Pilot Program
The beginning positive results of this pilot program not only say that more bottles would be shipped but more companies are coming to SAP’s platform as per the report. Semenov says that CONA is aiming on working with commerce giants like Walmart and Target, though scaling to work with those firms’ supply chains that would be difficult to undertaking, he mentioned that.
The Head of SAP’s Innovation Centre Network, Torsten Zube said that what they have achieved here with the blockchain is helping them to create a document flow across the supply chain. The main competitor of CoCa –Cola, PepsiCo also did a trail on blockchain technology in may month had raised its efficiency by 28 percent.
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