SAP Is Pilot Testing A Supply Chain Tracking System Based On Blockchain Technology
Software giant SAP is reportedly working testing its blockchain-based supply chain tracking system in partnership with numerous business partners before bringing it to market.
The company’s cloud-blockchain platform is currently in the pilot phase which involves partnerships with 16 suppliers of farm-to-consumer produce. Some of the suppliers include Natura, Tate & Lyle,Naturipe Farms, Johnsonville and Maple Leaf Foods. The firm has been developing the Cloud Platform Blockchain for the past few months with the main goal of better handling of data from various industries.
SAP claims that the Cloud Platform Blockchain will allow enterprises to develop and extend business applications with its MultiChainblockchain service. The latter was created using the open-source Hyperledger Fabric platform which was provided by the Linux Foundation HalaZeine, the head of the Supply Chain and Manufacturing group at SAP announced that the company’s cloud platform customers can pilot test the new blockchain ledger.
“SAP’s customers first connect to its [cloud-based] applications and then connect those applications to its blockchain platform as an option they can turn on,” stated Zeine.
SAP has also been pushing towards a global presence and it recently formed a partner consortium that includes seven major companies. Some of the companies include UPS, Hewlett Packard Enterprise and Intel. SAP plans to introduce its blockchain-based supply chain tracking solution to various major industries including the shipping industry, the tech industry and the pharmaceutical, produce industry among others. The company’s MultiChainblockchain service will allow businesses to develop and extend their businesses.
The solutions offered by SAP could help some major companies to overcome some of the supply chain issues that they have been facing. For example, electric vehicle manufacturer Tesla can leverage SAP’s offerings to improve its relationship with suppliers. Many companies from different types of industries are showing more interest in blockchain solutions that can help them achieve more efficiency in supply chain management and also their workflows.
Although the SAP Cloud Platform Blockchain being tested, development is still undergoing. The company is planning to hold a meeting with the members of its consortium to curve out a roadmap for the development of applications that will handle data from different industries. So far there are roughly 65 companies that have joined the SAP’s blokchain development program.
SAP is just one of the few companies that are developing solutions for blockchain development. Earlier this year, IBM announced a strategic partnership with Maersk to create a shipping system based on blockchain technology. The system will be used to track cargo in real-time and digitize supply chains.