Annually, the Automotive Industry alone loses billions of dollars due to supply chain mismanagement. For most, the deficit is credited to losing between 16 and 18 percent of reusable packaging assets.
The multi-billion-dollar problem in the Automotive Industry is indicative of an issue with the current state of supply chain management across all industries. Simply stated — the status quo of supply chain management has been outgrown.
Surgere, the developer of the web-based community AutoSphere, customizes unique solutions for supply chains utilizing sensor-based science – in conjunction with their proprietary cloud-based solution – that delivers unprecedented visibility, data and ROI, while providing 99.9% accuracy.
Technological advancements are an integral part of what makes Surgere’s solutions so innovative and effective compared to others. Blockchain — as a disruptive technology — enhances Surgere’s ability to identify and track transactions digitally and share that information through distributed ledgers.
Surgere’s applications and implementation of blockchain technology are not limited just to the automotive industry but extend to areas like pharmaceutical and agricultural.
When integrated into a supply chain, like in Surgere’s solutions, blockchain technology can show the chain of custody from the collection of raw materials to the car dealership. That would mean that supply chain managers have a detailed account of where a product comes from and what has happened it throughout the supply chain.
“There is a level of security for the consumer that comes with blockchain and the visibility that comes with blockchain that they’ve never had before in a standard supply chain,” said Rusty Coleman, Surgere’s VP of Digital Transformation. “It’s not only about cost reductions for the consumer — it’s about security, transparency and accuracy. Imagine knowing with 99.98% level accuracy the chain of custody regarding a specific part.” Continue reading.