Oracle has recently announced a set of SaaS applications based on its Oracle Blockchain Cloud Service for the determination of tracing and tracking supply chains from a clear distributed ledger. Rick Jewell, Oracle’s senior vice president of Supply Chain & Manufacturing Cloud Applications stated that these blockchain applications will be working flawlessly with current Oracle Cloud Applications and are out-of-the-box ready with pre-built additions and business network patterns for common business processes.
Oracle had previously announced in the month of July 2018 that its blockchain cloud service was one of a dozen main tech companies that have publicized blockchain-as-a-service (BaaS) providing over the past two years. That list comprises IBM, Microsoft, Amazon, SAP and Hewlett-Packard Enterprise (HPE) as compared to others they are even forcing BaaS for first-time enterprise adopters who wish to allow integration with current enterprise software and cloud services.
Oracle’s BaaS comprises Supply Chain Management (SCM Cloud), which is used for generating a digital trail during locating, manufacturing, and conveyance of goods. It even included ERP and tracking of warranty and customs. At present, it is the top blockchain distributed ledger technology, which creates an unchallengeable record that can be seen by anyone internal or external to a corporation with approval to access the system.
Along with cross-border financial transactions, the supply chain has been cited as one of the top uses for blockchain distributed ledger technology, which creates an immutable record that can be seen by anyone internal or external to a company with authorization to access the network. Mirroring occurs when documents such as a bill of laden or invoice are simultaneously in possession of a shipper, a receiver, a customer and others involved in the supply chain. The duplication of documents before an account is settled creates inventory in the seller’s systems, including receipts for the buyer, proof of delivery, invoices, payment and payment confirmations.
Beer maker Alpha Acid Brewing in Belmont, Calif., said it’s currently using Oracle’s Intelligent Track and Trace blockchain application to follow ingredients, such as hops, malt and yeast, along a supply chain.
Oracle Blockchain Cloud Service has also been offering its clients with a growth platform to create their own networks and to rapidly assimilate with Oracle SaaS and third-party requests they already use, as well as other blockchain networks and Oracle PaaS services. It further aids from broad capabilities in Oracle Cloud Platform for plug-and-play integration with current cloud and on-premises requests, API management, and application development environments and tools. Additionally, Oracle is delivering new SaaS applications to use blockchain technology for common use cases, such as track and trace, origin documentation, guarantee and usage, and cold chain.
Kyle Bozicevic, owner of Alpha Acid stated that users are best informed than ever before and are progressively interested in what is in the foodstuffs they consume. The company at present can track materials and best ingredients from the suppliers and analyze sensor data from the production process for every batch.
On the other hand, Lionel Louie, the chief commercial officer for CargoSmart mentioned that its business expect a 65 percent decreases in the amount of time obligatory to collect, syndicate, and settle data from manifold parties. The firm also hopes to rationalize data from different documents by leveraging Oracle Intelligent Track and Trace.