- BASF, the German chemical company, seeks to improve supply chain visibility with the help of IoT transponders attached to transport pallets, CSCMP's Supply Chain Quarterly reported Tuesday.
- Blockchain technology will also be involved, though BASF is unwilling to reveal its role in the process of employing IoT-enabled pallets.
- BASF hopes the IoT-enabled pallets will reveal details such as ambient temperature for cold chain transports, acceleration and location for potential impact damage, and even whether the load is complete.
For increased visibility within the supply chain, blockchain is becoming the preferred technology.
In March, Maersk Line partnered with IBM to add blockchain technology to the shipping paper trail, adding transparency to the process of tracking. IBM has also established a relationship with Sichuan Hejia to form the Yijian Blockchain Technology Application System, aimed at improving financing within the Chinese pharmaceutical supply chain, which is often subject to delayed payments by Chinese hospitals.
While BASF is not releasing details regarding how it will use blockchain in the pilot project, it's significant that yet another industrial company is implementing blockchain into its supply chain operations. Even though blockchain hasn't been implemented in supply chains worldwide, more and more companies are running pilot projects to integrate the tech into supply chains.
It might behoove companies that haven't looked into blockchain to consider the new tech, as it is clearly gaining momentum as a new trend in supply chain management.