Digital Transformation in Practice : Learning from IIC Deployments
• To build a trusted and transparent asset tracking by combining three technical components , namely secure edge-devices , blockchain and standardized supply-chain data format and
• Facilitate collaboration among supply chain stakeholders , improve supply-chain efficiency and user experience , and achieve substantial cost savings .
This test drive was initiated by IoTeX ( blockchain & IoT solution provider ) and is being integrated and evaluated by a medical-supply-chain startup . See the description for more information . 9
IT / OT integration and convergence : The VAT test drive brings together different data silos to form a unified view of the end-to-end supply chain using secure edge devices , blockchain , and a standardized supply chain data format . This is necessary for achieving great cost and competitive advantages through collaboration among stakeholders .
Operational impact : The VAT test drive uses blockchain to ensure all the stakeholders share the same view regarding the status of physical assets , which increases asset tracking transparency and eliminates disputes and tedious reconciliations among stakeholders . Smart contracts that execute service-level agreements automate payments and improve administrative efficiency .
Customer experience impact : The VAT test drive allows customers to track status ( e . g ., location , temperature , humidity , movement , handling ) of their physical assets on a user-friendly web portal in a timely manner , which improves the customer experience significantly . Moreover , the combination of secure edge devices and blockchain ensures trustworthiness of supply-chain data , thereby giving customers peace of mind .
Business model impacts : The combination of secure edge devices , blockchain and standardized supply-chain data format creates trust among stakeholders in asset-tracking applications . In addition , the increasing need to eliminate intermediaries and automate supply chain operations are expected to provide growth opportunities for blockchain-empowered asset-tracking solutions , making the VAT test drive is crucial for gaining competitive advantage .
Business : The VAT test drive creates a trusted and transparent asset tracking platform across multiple tiers of the supply chain . It addresses a number of challenges in supply-chain asset tracking such as poor quality-control across the value chain , low administrative efficiency , long and tedious reconciliations among stakeholders . It is expected to help organizations reduce the overall cost of products , improve customer satisfaction , and unlock new business opportunities .
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IIC Journal of Innovation 65