Integrity has recently initiated an effort to discover and map out a complete product lifecycle in order to craft a traceability solution using blockchain.
The identification and traceability of a product's unique, value-added characteristic across a supply chain with multiple participants is a unique challenge. Often, processes are manually intensive, leverage antiquated data tracking mechanisms and constrained by poorly optimized workflows.
"The goal is to improve the way this product is tracked, transported and moved from producers to consumers." said Ed Morrissey, Partner with Integrity. "Harnessing the power of blockchain technology which is designed specifically to generate transparency and efficiency in supply chain record-keeping is a logical consideration."
Blockchain - or distributed ledger technology - provides a permanent record of transactions which are then grouped in unalterable blocks stored as a decentralized log of data maintained on a network of computers, rather than a physical ledger. It could serve as an alternative to traditional paper tracking and manual inspection systems, which can leave supply chains vulnerable to inaccuracies.
"Digital transformation and advanced technology are common within many early adopter industries." said Brian Rapport, Program Lead with Integrity. "Our team is excited about identifying effective, innovative applications of blockchain technology to other industries."
Many experts believe the technology could provide a secure, transparent network of information and revolutionize industries ranging from healthcare to marketing to finance. Our team of experts are dedicated to exploring all available technology options to ensure our clients remain on the cutting edge of technology while maximizing business returns.
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