1. Logistics and supply chains adopting IoT technology
A global supply chain network includes a wide range of parties, including:
- Brokers
- Suppliers of raw materials, etc.
It makes end-to-end visibility more challenging. The supply chain may span several months and include numerous payments and invoices. The biggest issue now is delivery delays because there are so many stakeholders involved.
In order to track the movement throughout the shipment process, businesses are working to IoT-enable the vehicles. The combination of Blockchain and IoT can improve the network’s dependability and traceability due to the lack of transparency and complications in the current supply chain and logistics.
IoT sensors can deliver precise details about the status of shipments, such as:
- Motion detectors
- Temperature sensors via GPS
- Information about the vehicle Connected devices, etc.
The blockchain is then used to store the sensor data. Stakeholders listed in the Smart Contracts have real-time access to the data once it has been saved on the Blockchain. Participants in the supply chain can then set up transshipment and conduct international business.
Golden State Foods (GSF) is a well-known manufacturer and distributor of food products and a multifaceted supplier. The goal of GSF, which supplies more than 125,000 restaurants, is to create and deliver high-quality products.
In order to use Blockchain and IoT to improve business processes, GSF is collaborating with IBM. The blockchain sensor data ensures that problems are identified and reported automatically before they become serious.
With blockchain, GSF can build a safe, transparent, and accessible ledger that can be accessed by various stakeholders to:
- Accountability
- Transparency
If you’re interested in learning more about how IoT technologies are being applied to real-world use cases, we’d love to hear from you. Please feel free to reach out to us through our website or social media channels to learn more and discuss how IoT can benefit your business.
