Walmart Canada has launched an automated blockchain-based network for shipping and payment tracking. Developed in collaboration with DLT Labs, it is designed to improve the management of the supply system. The company has the ability to automatically track deliveries, verify transactions, and manage payments and reconciliation.
The blockchain network can be integrated with the existing system used by Walmart Canada and manages, integrates and synchronizes the real-time supply chain and logistics. The data on truck fleet from suppliers are recorded in a common register.
John Bayliss, Vice President of Logistics at Walmart Canada, noted the effectiveness of blockchain technology for inventory management:
“This new, dynamic and interactive technology creates complete transparency between Walmart Canada and all of our shipping partners. Blockchain allows material advancement in our smart transportation network, with accelerated payments, extensive cost savings and other benefits within our supply chain. Moreover, this improved degree of efficiency provides us with a powerful platform to continue to reduce our environmental footprint and continue to support sustainability. ”
Blockchain-based automated network for transportation companies
The blockchain platform will integrate all 400 of Walmart Canada’s transportation and supply companies by February 1, 2020. The solution is accessible using a web portal and a mobile application.
Walmart Canada’s three distribution centers work with more than 4,500 associates and drivers, carrying more than 853 million freight shifts annually.
Bison Transport, the transport partner in the pilot project of the new blockchain network, said:
“Big partners are finding innovative ways to create business solutions that benefit both parties. The blockchain initiative we worked with at Walmart and DLT Labs is exactly that – a solution that is beneficial to all. This project is a new paradigm that will greatly improve workflows, reduce documents and increase collaboration with Walmart ”,
explained Rod Hendrickson, VP Finance at Bison Transport.