Transparency-One and Microsoft announce blockchain service for supply chain transparency
Source-to-store supply chain transparency solution, Transparency-One, has partnered with Microsoft to provide blockchain capabilities for its platform.
Transparency-One customers will now have the option to add an additional layer of security to their data by storing critical supply chain information, captured in Transparency-One, in Microsoft Azure's Blockchain Services.
Blockchain heightens the security of the data stored in Transparency-One by creating a ledger of all transactions between supply chain partners, and making it immutable.
With this technology, all transactions, including any updates or modifications, are immediately recorded and stored in the blockchain. Blockchain data can immediately be accessed by designated supply chain partners, providing full transparency at each step of the supply chain.
“Blockchain is a powerful technology that can play an integral role in helping businesses achieve end-to-end supply chain transparency, in any industry," said Frédéric Daniel, Chief Technology Officer of Transparency-One.
“Transparency-One maps the complete supply chain down to the raw material, and blockchain ensures that every step of the process is permanently recorded, providing an even higher level of data security.”
Shish Shridhar, Microsoft Worldwide Retail Industry Solutions Director, commented: “Blockchain is a transformational technology with the ability to significantly reduce the friction of doing business and transform supply chain solutions.”
“Transparency-One's value proposition to map the entire supply chain, track compliance, and provide analytics to proactively manage business risks, combined with the Microsoft Azure's Blockchain Services, will enable organisations to ensure the security and integrity of supply chain data.”
The blockchain services build on Transparency-One's supply chain digitisation and mapping technology. Brand owners, retailers, manufacturers, and suppliers along the entire value chain can use the Transparency-One solution to discover their end-to-end supply chain networks, share and exchange relevant product, component, and facility information, and analyse performance.
The platform can manage a range of supply chain data, including:
- Chain of custody: mapping of the complete supply chain
- Product integrity: product composition, quality, testing, and safety information
- Supplier compliance: supplier and facility details, country of origin, certifications and audits
- Documentation for regulatory compliance