As companies continue to grow, Blockchain-as-a-Service (BaaS) can help supply chain systems grow alongside the companies in order to better keep up with incoming demands. If an organization’s supply chain team need to spend all their time just keeping pace with demand, when will they have the time to think strategically and plan for the future? Learn how blockchain technology can help your company scale.
Transparency
While new companies may be able to track their data by using spreadsheets, the process is often time-consuming and hard to maintain as the company grows. With new partners and channels, data silos can make it difficult to manage your supply chain. Blockchain can help by connecting the data through its decentralized digital ledger, which creates a secure record of all product movements and transactions.
BaaS can benefit companies of various sizes, not just large corporations. This platform allows companies to connect their supply chain system with end-to-end visibility from any device with an internet browser.
Scalability
In order to grow a business, a holistic view is needed to ensure that both demand and growth are met. Blockchain provides this by ensuring companies are able to not only meet current demand but can grow.
Blockchain can provide organizations with greater scalability. Adding nodes as the supply chain expands allows for new channels to easily be added to the distributed ledger. Companies can immediately take these new channels into account when planning.
Data
As companies get busy, they may not have time to think strategically. Key performance indicators (KPIs) may not be reviewed, or they might be limited on data. Real-time data with blockchain technology can help create actionable information. Blockchain-as-a-service offers a digital view of what is happening in an organization’s blockchain at any given point. With the ability to view data at any time, it is easier to be more proactive.
BaaS in Real-Life
How exactly does BaaS look like in the real world? IBM is offering a blockchain platform that lets consumers know where their coffee comes from. In the app, “Thank My Farmer”, users can scan QR codes that shows them the journey of their coffee and supports sustainable farming projects through donations. Starting this March, consumers in the U.S. and Canada will be able to find these QR codes on Folger’s 1850 brand premium single-origin coffee and other well-known brands.
Starbucks is also in the progress of utilizing BaaS to help show consumers their coffee’s journey. Starbucks is working with Microsoft to develop a blockchain-based supply chain tracking system and mobile app that would show customers the journey from coffee bean to cup. No live date has been given for the app.
Prepare for the Future
Enterprise Blockchain for Healthcare, IoT, Energy, and Supply Chain is a new five-course program from IEEE. Developed by leading experts in blockchain technology, this advanced program provides business use cases across key industries and sectors. It’s ideal for managers, professional engineers, and business leaders.
Connect with an IEEE Content Specialist today to learn more about this program and how to get access to it for your organization.
Interested in learning more for yourself? Visit the IEEE Learning Network.
Resources
Mearian, Lucas. (9 January 2020). Coffee industry looks to blockchain to brew a better supply chain. Computer World.
Soni, Pratik. (8 January 2020). Blockchain-as-a-Service: Ensuring your supply chain today can meet the demands of tomorrow. Supply & Demand Chain Executive.
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