Walmart Canada announced that it has been working with DLT Labs, a blockchain company, to develop a platform to facilitate logistics operations, from tracking shipments and verifying transactions to handling payments.
According to PYMNTS.com, Walmart Canada stated in a press release on November 14th, 2019 that its blockchain-enabled platform will let stakeholders access its logistics data, from transaction verification and delivery tracking to reconciling automation between the major retailer and its carriers. The system is to be fully operational by February 2020.
The company revealed that it has adopted DLT Labs’ DL Asset Track technology that helps connect between over 400 Walmart retail outlets as well as its third-party freight trucking providers.
John Bayliss, Senior Vice President of Logistics and Supply Chain at Walmart Canada, disclosed that the company currently works with carriers to transport over 500,000 inventory loads across Canada. Thus, the blockchain platform will greatly enhance the efficiency of its operations.
“Walmart Canada is dedicated to efficiency across our business, including most importantly in our supply chain and logistics management,” Bayliss said. “This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners.”
The Senior VP added that the new system will also help the retailer cut costs while addressing environmental issues.
“Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain. Moreover, this degrees of improved efficiency represents a powerful platform for us to continue to reduce our environmental footprint and continue our leadership in environmental sustainability.”
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