What Makes Microsoft and Adents to Focus on Supply Chain with Blockchain Technology?
Microsoft Corporation has aligned with a provider of supply tracking solutions, Adents, mainly to focus on establishing a tracking platform with the help of blockchain technology. The alliance will also concentrate on artificial intelligence (AI). As the online processes are growing, there is also need to ensure a proper tracking system in the supply chain management for different reasons. The two companies appear to be focusing on high-value industries to address the supply chain issues before thinking of focusing on medium or smaller companies.
Microsoft and Adents have named the new solution based on blockchain technology as “Adents NovaTrack.” During the recent Viva Tech show in Paris, the solution was presented before the audience. The system has not only intended to provide end-to-end traceability but also the visibility from the origin point through the whole supply chain management. As a result, users could be in a position to track even a single item product within a case.
Initially, the product was designed mainly for the pharmaceutical industry so that they fight the fraudulent drug copies distribution. However, the creators want to focus on high-value industries from different sectors. The solution is applied through technologies like the Internet of Things (IoT), AI and blockchain apart from serialization of functions. This is where Microsoft would offer its AI with its learning and business intelligence solution, cointelegraph reported.
Adents founder and CEO, Christophe Devins expressed the confidence that “Our alliance with Microsoft to co-develop Adents NovaTrack will offer game-changing blockchain-based unit identification for various industries around the world. Our deep roots and successes in serialization and traceability, enhanced by Microsoft Azure Cloud technology, will provide our clients with total transparency all along their supply chains and secure product authenticity for end users.”
The two companies have obviously looked into the demand side before embarking on this solution. For instance, Organization for Economic Co-operation and Development (OECD) indicated that about ten percent of the products from the pharmaceutical sector in the world are counterfeit. Similarly, there is an estimate of 2.5 percent in respect of global imports that were termed as counterfeit. This suggested how the technology could be useful in the supply chain management.
Validation of Supply Chain
It was only last month that Scientist.com, a research marketplace for life science, disclosed about a new blockchain platform meant to keep track of and protect data in respect of pharmaceutical sector. The technology would be used to not only verify within the project but also to validate the complete process of supply chain management. It also appears that interest for this kind of solution is also growing.
For instance, Walmart announced in April that it did mind in using the blockchain technology in its live food business unit. The biggest retailer indicated that it was keen to look for suppliers who could put food on blockchain so that they could cut down the wastage apart from improving transparency and contamination management. Similarly, Swissport, a cargo and ground handling firm in Swiss, revealed that it was planning to create an open source platform focused on supply chain partners.