Extract from Supply Chain Management Review
It can be hard for many people to understand what makes a blockchain different from a traditional database. So while the potential opportunities may be huge, the practical reality is that introducing a new technology like blockchain into a large, global organisation takes time, planning, and – most of all – the buy-in of decision-makers throughout the organisation.
ASCI loves free online learning tools for supply chain management!
Here, the U.S. Air Force Institute of Technology (AFIT) has developed a free, interactive tool to help supply chain management professionals learn about blockchain and its potential uses. AFIT recently published a live blockchain application that can be accessed from any computer or smart phone, along with a complementary series of tutorial videos that walk learners through a blockchain simulation.
Daniel Stanton, founder of SecureMarking and author of Supply Chain Management for Dummies takes us through AFIT Blockchain for Supply Chain Demonstrations. These include six short “How To” videos on blockchain. It includes links with real time dashboards to practice blockchain software as Daniel walks you through the scenario.
An interesting feature of this demonstration is that it tracks the entire lifecycle of a component – from its point of manufacture to its eventual decommissioning and disposal. This is important because many supply chains now face a challenge of having used products re-introduced and sold as new by unscrupulous businesses. These used products can lead to costly problems such as unexpected breakdowns of equipment. In some situations, tracking decommissioning could also be useful for ensuring that hazardous materials are properly disposed of, or that re-usable components are properly recycled.
In the process of developing this scenario, the team faced some of the basic decisions that any company will need to address when designing a blockchain. For example:
• Will the blockchain be public, allowing anyone to join, or will it be private, meaning only pre-approved companies can participate in transactions?
• What activities will each company in the blockchain be allowed to perform?
• Will participation be compulsory or will there need to be an incentive structure?
• How much visibility will each company have into the overall supply chain?
Invest in your professional learning and commit some of your commute times to learning some of this exciting technology!
This blog is an extract from Supply Chain Management Review. See full article here.