Germany/Reutlingen, 15 April 2020
The pilot application “PartChain” creates a peer-to-peer network to connect suppliers’ and carmakers’ plants around the world. The use of this technology – which is based on the real-time exchange of “blocks” of immutable and verifiable data – improves traceability of automotive components and raw materials, allowing for more efficient and reliable transactions and operations, bringing advantages to all the players in the value chain.
In extremely complex environments such as automotive supply chains, many parts are exchanged between many plants of suppliers, sub suppliers and carmakers, simultaneously. Consequently, the tracking of components, and related sourcing and itinerary data, is not an easy task, also because often the companies rely on different IT systems. Having a unique shared system between all the supply chain actors involved, enables a common, distributed ledger and the possibility - assured by the “Blockchain” - to have fixed data packages linking directly components and the final product. This factors finally makes the traceability much easier and accessible for all the players, with data quickly available for everybody at the same time. Optimization of logistics and production costs is the consequent benefit.