A large amount of data is being exchanged every day across food and beverage supply chains, and this continues to increase in volume due to rising consumer demand and changing dietary habits.
The emergence of blockchain solutions with multiple applications, however, will enable businesses to better manage the complex movement of inbound and outbound goods.
Last year, the world’s biggest e-commerce company – Alibaba Group – introduced the Food Trust Framework, designed to provide end-to-end supply-chain traceability and transparency, boost consumer confidence, and build a trusted platform for cross-border trade. This blockchain framework is aimed at combating food fraud – counterfeit or low quality food products will be identified faster.
Here is a round-up of the many advantages blockchain solutions can offer Australian food and beverage companies as they grapple with increasing levels of complexity.
Monitor for shelf life, expiration dates, weights, and storage limitations
Increasing demands from customers and the growing complexity of the food and beverage marketplace will require a solution that can integrate with companies’ existing systems to provide an end-to-end control over their inventory without much disruption to their business.
With the right solution, businesses are able to minimise quality or shelf life loss between harvest and retail. This results in a more proactive and nimble food supply chain that benefits both the food industry, its logistics partners, and end consumers.
time visibility for participants throughout the supply chain
By harnessing the power of a Global Trade Network (GTN), companies can unlock the power of a collaborative supply chain network to transform their supply chain economics for disruptive advantages.
This is because a GTN is comprised of many connected partners for businesses to connect with hundreds, if not thousands, of participants up and down their supply chains and the tools to manage the increasing complexity of the food supply chain.
Scale as needed on an integrated, streamlined, and flexible platform
A GTN supports quality, speed, and scalability. It enables food suppliers to optimise their supply chain with true end-to-end visibility to improve customer satisfaction while freeing up internal resources to focus on other corporate valuable initiatives.
BluJay’s collaboration with logistics partners further enables customers in the food industry to leverage managed transportation services that give them the benefits of scale and additional cost savings.