Walmart Canada and DLT Labs have launched a blockchain-based freight and payment network that tracks deliveries, verifies transactions and automates payments and reconciliation among Walmart Canada and the carriers that delivery inventory to its retail stores.
The company expects all of its third-party carriers to be live on the Blockchain network by February 1, 2020. The solution is accessible using a web portal and a mobile application.
Walmart Canada partnered with DLT Labs to automate freight and payment data using DLT’s supply chain platform DL Asset Track. The blockchain-based network manages, integrates and synchronizes all the supply chain and logistics data in real time, aggregating the data between Walmart Canada and its fleet of third-party trucks on a shared ledger.
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The solution also automates the myriad necessary calculations enabling real-time invoicing, payments and settlement. At the same time, it integrates with each company’s legacy systems, so organizations can continue to follow their existing processes without retraining or investing in new technology.
“Our carrier partners move over 500,000 loads of inventory nationally, which creates an extraordinary volume of transaction data,” said John Bayliss, senior vice president, logistics and supply chain for Walmart Canada. “This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners.”
Bison Transport is Walmart Canada’s carrier partner for the pilot of this blockchain-based freight and payment network.
“The blockchain initiative we worked on with Walmart and DLT Labs is just that – a mutually beneficial solution that works well for Bison Transport and Walmart Canada,” said Rod Hendrickson, vice president of finance, Bison Transport. “This project is a new paradigm that will greatly improve workflows, reduce paperwork, and make the business we do with Walmart more efficient.”