Data-Centric Smart Supply Chain Solutions
The Integrated Supply Blockchain that TEMCO is proposing is different than commonly known supply blockchain. The usual supply blockchain system is focused on tracking records of the products and documentation created during the process of delivery, using the smart contract to automate the process.
Unlike the commonly known supply blockchain system, TEMCO is working on “how to improve the distribution process to gain more trust from the consumers? “How can blockchain technology be used in a way that manufacturers, distributors, and consumers can all benefit?”.
As explained on the previous page, the existing supply blockchain system does not satisfy consumers who demand the transparency and accuracy of the information, since most of the information in the existing system is processed by the third party. To improvise this, TEMCO project is focused on providing accurate and direct information from the manufacturing process to the point until the product is delivered to the consumer. The project is also focused on connecting the manufacturer, distribution center, transportation service, and the consumers, all in one so that data about the product(s) can be shared in real-time. We are also hoping that all the participants of the integrated supply chain from manufacturer to the consumer can utilize TEMCO more efficiently, and from this, each individual utilizing the system can gain more advantages, and make possible for consumers to purchase the products that TEMCO have selected as well.
Through this kind of data based new supply solution, TEMCO project is focused on 1) High connectivity among the users, 2) Trustworthiness of the product information, 3) Transparency and safety of product information, and 4) High efficiency of the product information.
1. High Connectivity among the users
Utilizing TEMCO QR code and smart tagging, data collection of the product(s) from the manufacturer to the consumer are saved in the blockchain database based on its protocol.
Through this, all the users of the system can log into the TEMCO platform from anywhere and at any time, creating a new supply network ecosystem.
2. Trustworthiness of the product information
Excluding the final consumer, participants of this supply network ecosystem will be going through a rigorous vendor verification process and follow proper logistic/circulation guidelines. Also, using smart contract confirmation and circulation verification connected to the information of the products being transported from one company to another, so that more genuine and detailed information about the products(location, data, transporting company, circulation environment etc…) can be collected without edited or missing.
Having these two processes inserted into our blockchain database, unlike the usual/pre-existing logistics system, we can increase reliability and earn more trust from the consumers through verified and confirmed information.
3. Transparency of product information and safety
Based off of P2P (Peer-to-Peer) network, any information saved in the blockchain system can be spread and shared with all of the participants and non-specific node within the system can be used to verify and confirm the information coming in or created. Unchanged product information under smart contract base within abandonment proof system is renewed as transparent information that anyone in the system can check.
Information created or submitted within the TEMCO platform gets saved/recorded in dispersed servers, and it is backed up into the system by a special rating system within the blockchain so that in a case of an accident, the previous transaction record cannot be edited by the third party. Allowing the participants of the system to receive or view genuine information about the product(s) in real time.
Based on these features, anyone utilizing TEMCO platform will be able to receive complete and genuine information.
4. The high efficiency of the product information
Excluding the major company or a large corporation, others who are involved in the manufacturing and distribution business understands that there is a need for informative supply network, but passive about investing in it. However, the TEMCO project is working on providing a solution for those who are passive about investing in a supply network, without the need to dedicate large investment on such infrastructure, using an open platform system.
Through this solution, participants of this new supply network ecosystem can digitalize all the processes, increase the creation of diverse information about the products, improving the supply/delivery management, service innovation, and meet the quality expectations of the consumers and the society of the 4th industrial revolution.
So far we looked at TEMCO’s data-focused smart logistics solution for product information sharing, on the next page we can take a closer look at TEMCO’s operation cycle and the project in more detail.
“TEMCO, Supply Chain Management Powered by Blockchain”
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