Canada’s FCL Simplifies Supply Chain Management With Blockchain Tech
Canada based FCL (Federated Co-operatives Limited) is collaborating with Morpheus Network, which offers blockchain powered supply chain (software glue or middleware) platform.
Being one of the 50 largest cooperatives in Canada, FCL intends to embed distributed ledger technology, or DLT, based tracking facility.
This will be implemented throughout supply chain, covering 1,400 enterprises in entire Western Canada and hires more than 23,000 staffs.
The firms have signed a three-year contract that will result in the creation of optical character identification facilities by Morpheus.Network, machine learning and blockchain technologies to simplify FCL’s cumbersome supply chain.
FCL is a manufacturing, wholesaling, administrative and marketing partnership established by over 170 independent vendor associations.
The organization is basically focused on four sectors namely food, agriculture, home, energy and building solutions, including convenience shops, bars, agricultural centers and propane producing factories. The co-operative posted revenues of $9.20 billion last year.
Morpheus’ system will offer mechanized monitoring and compliance handling tools that will replace FCL’s prevailing manual practices.
“This system replaces a largely manual process where thousands of regulatory certification and documents from more than 150 suppliers are collected and managed by FCL which all need to be scanned, validated, processed and tracked.”
Raymond Gareau, FCL’s Supply Chain Manager underlined the improved ability in “supplier document management and validation processes” as an outcome of DLT adoption, further stating:
“Next up we are looking at the overall visibility of our supply chain from suppliers to FCL warehouses”
At the end of last month, BMW stated that its blockchain powered supply chain solution will be adopted by 10 suppliers this year. The platform, PartChain, was trialed last year at two of BMW’s 31 production facilities and three branches of supplier Automotive Lightning.
BMW will also share the platform with members of its Mobility Open Blockchain Initiative, co-founded by automobile manufacturers BMW, Ford, GM and Renault, along with technology companies Bosch, Hyperledger, IBM, and Iota.