Coca-Cola bottlers, based in Alabama is the latest global corporation to embrace and implement blockchain technology. It follows on the heels of numerous other corporate entities that have started taking up the many benefits offered by this revolutionary technology.
According to a recent report from Business Insider, the bottlers are now using a blockchain solution that was developed for them by SAP, a German-based software corporation. The report states that the company is using the solution to trace operations taking part in its more than 70 global franchises.
Big Corporations and Blockchain Technology
Whereas large corporations still find it easy to regulate product and service supply chains, it becomes harder for them to engage with other companies. For example, CONA (Coke One North America) currently cooperates with around 12 big bottlers to ensure that Coke products are efficiently distributed. In the course of this entire process, CONA is expected to manage close to 160,000 daily orders.
“There are a number of transactions that are cross-companies and multiparty that are inefficient. They go through intermediaries; they are very slow. And we felt that we could improve this and save some money,”
said Andrei Semenov, the senior manager at CONA.
By implementing blockchain technology, Coke One North America gets to enhance the transparency and efficiency of its gigantic supply chain. Its embrace of this tech means that it will get to greatly reduce the duration taken to reconcile orders from a few months to just a few days.
This is primarily because CONA will get to view the transactions that have been made by all its bottlers through the use of a distributed ledger.
The Pilot Program
Reports from Coca-Cola indicate that there is an ongoing pilot program that has already been expanded to its entire list of franchises. According to Semenov, if the pilot program ends up being successful, chances are that there may be cooperation in the future that will see Target, Walmart, and Coca-Cola working together.