Tracing Back Instantly
The coffee you had in the morning comes from a complex global supply chain. From farming and reaping to logistics, processing, packaging, storage, distribution, and more logistics, the coffee powder goes through a lot before it fires up your mornings. The story is the same for most of the food items we consume on a daily basis. However, this complexity comes with risk—the risk due to the sheer lack of transparency. Previously, whenever there was a mishap, the fingers were right away pointed at the production. While this urged companies to throw their Chief Operating Officers under the bus, the real problem often persisted undetected.
Blockchain is a solution that detects and fixes problems in this complex structure in an almost real-time manner. Let’s take the example of Nestlé. Established over 150 years ago, Nestlé is the biggest food manufacturer in the world, selling in almost all countries in the world. The company is essentially a strong pillar of the world’s supermarket supply chain and, hence, held to a higher standard than most. Nestlé has significantly advanced in exploring the capabilities of blockchain over the past few years. As a founding member of the IBM Food Trust, a SaaS platform, it offers stakeholders instant access to valuable data across the food supply chain. This encompasses the entire background and present whereabouts of each food item, along with related details like certifications, test results, and temperature records, all of which become quickly accessible after being recorded on the blockchain. It does a world of good to the life of COOs. Blockchain is increasingly becoming their best friend.
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