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Distribution & Logistics Industry Updates Retail

Walmart Canada Aggressively Embraces Blockchain

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Walmart Canada’s blockchain-based freight and payment network, designed and built by Walmart Canada and DLT Labs™, has established state-of-the-art collaboration and information sharing with 70 third-party trucking companies that transport inventory for Walmart Canada nationally.

“Walmart Canada is dedicated to efficiency across our business, including most importantly in our supply chain and logistics management,” said John Bayliss, senior vice president, logistics and supply chain, for Walmart Canada. “Our carrier partners move over 500,000 loads of inventory nationally, which creates an extraordinary volume of transaction data. This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners.”

The retail giant said its blockchain solution offers multiple direct benefits, including:

  • Data Capture & Integrity:  A distributed repository increases trust and transparency by sharing information and automating workflows and calculations to minimize manual effort and increase accuracy. 
  • System Efficiency:  Improved collective resource utilization, including quicker responses, improved tracking and tracing, and early problem detection. 
  • Faster Transaction Time:  Real-time consolidation of all business rules and transactions to create a single invoice reduces wait times and speeds up payments.

For more, go to https://bit.ly/35eWSqa.

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