PwC launches new blockchain-based supply chain system in Australia

By Jonathan Dyble
The Australian division of leading multinational professional services firm PwC has unveiled a new blockchain-powered supply chain system that will look...

The Australian division of leading multinational professional services firm PwC has unveiled a new blockchain-powered supply chain system that will look to transform the country’s supply chain operations by simplifying international trade processes.

“As a trading nation, Australia relies on efficient and effective international supply chains to drive its economic engine room,” said Australian Chamber, Director of Trade and International Affairs, Bryan Clark.

“At present the current inefficiency across Australian supply chains has added to the cost of doing business, creating up to $450 in excess costs per container.

See also:

Working with the Australian Chamber of Commerce and Industry and the Port of Brisbane, PwC created the new Trade Community System to ease the country’s growing supply chain traffic and deal with these inefficiencies more effectively.

The system will better track the flow of trading information on a digital network, both improving connectivity for participants in this supply chain, whilst also reducing costs and bettering productivity.

According to PwC, Australia’s five major ports deal with approximately 9mn container movements annually, with this expected to rise to 15mn by 2025, growth that this new blockchain platform will somewhat help in addressing.

Share

Featured Articles

Firms 'over-reached on sustainability targets' - Bain report

Bain & Company report released during Davos summit suggests 31% of businesses did not come close to hitting ambitious 2021 carbon emission targets

Accenture supply heads probe value chain resilience

Accenture's Maria Rey-Marston & Stephane Crosnier say best way to achieve supply resilience is real-time dynamic visibility, with people at its heart

Weekly news round-up across supply, logistics & procurement

CIPS chief in supply cash-flow warning; Women do better in large firms - Gartner; Accenture Euro chief's Ukraine advice; Dell supply head's green goals

UST webinar on managing supply risk available on-demand

Supply Chain Risk Management

Global land, sea and air logistics news round-up

Logistics

Comfort zones the enemy of sustainability - CIPS economist

Sustainability