Nestlé May Adopt Blockchain Technology To Track Inventory
It seems that blockchain technology continues to permeate numerous industries. Now, one of the largest food manufacturing companies in the world may start using it as well.
While introducing its latest project involving baby food production, the company stated that it is looking to adopt blockchain technology into the project, called “Food Trust.” The technology may improve safety standards and ensure that the company can track products in real time as they transition through the supply chain. In addition to Nestlé, nine other companies in the food industry are using blockchain technology and are specifically focusing on this product to ensure its true potential. The companies include Walmart, IBM, and Unilever.
In terms of the specific process here, the blockchain technology will be used to track various components related to the products. For example, the company will be able to track ingredients and qualities such as their source and which product they are specifically used in. This type of structure ultimately may reduce issues concerning food recalls and it may improve safety standards as well.
Not only will the company be able to track such qualities related to its products, but so will consumers. Consumers will have the opportunity to view where each of the ingredients come from through a public ledger.
Although the project may be time consuming and costly, it certainly may have its advantages. For instance, the ability to track and review products in such a manner ensures safety standards and may enhance compliance with a country’s regulations. This mitigates the risk involved in the food production process and it may even lead to more satisfied consumers at the end of the day. As for Nestlé specifically, consumers who are concerned about the safety of baby-food products may find the company’s food options to be the safer choice due to the technology.