Blockchain Meets Fizzy Drinks
In an interesting twist on refreshing beverages, Coca-Cola’s bottlers are diving into the world of blockchain technology. This innovative move is orchestrated by Coke One North America (CONA), a tech firm that oversees IT operations for the many bottlers in the Coke empire. Utilizing a solution crafted by SAP, CONA aims to streamline its lengthy supply chain processes.
Raising the Efficiency Bar
Imagine managing a staggering 160,000 orders daily — that’s the reality for CONA. Each order represents a painstaking process often bogged down by intermediaries. As Andrei Semenov from CONA articulately shared, “There are a number of transactions that are cross-companies and multiparty that are inefficient.” Blockchain technology is stepping in like a superhero, drastically reducing order reconciliation time from 50 days to just a few days.
Transparency is Key
The beauty of blockchain lies in its transparency. With an inter-organizational, distributed ledger, bottlers will have real-time visibility into transactions — an essential tool for a network that generates over $21 billion in annual revenue. This technological leap allows for quicker decision-making and enhances trust among participating parties.
Data Sharing: Not Just a Guessing Game
Before diving headfirst into blockchain, CONA had to figure out what data would be shared amongst the franchises. Semenov recounted the discussions that led to a consensus: “We started with a huge list of data attributes, and we narrowed it down to the list that everybody agreed on.” It sounds like they treated it like a group project in school — tedious but ultimately necessary for success.
Following in Giant Footsteps
Coca-Cola isn’t alone in its blockchain journey. Retail powerhouse Walmart has been at the forefront since 2016, using IBM’s blockchain technology for various supply chain applications. From tracking seafood imports to experimenting with blockchain patents, Walmart is setting a precedent for food safety. Meanwhile, international coffee companies have also jumped on the bandwagon, teaming up with Farmer Connect to leverage the IBM Food Trust platform.
What’s Next for Coca-Cola?
As these industry giants embrace blockchain, one can’t help but wonder: what’s next? If Coca-Cola can avoid the mixing of syrup and water too quickly with the use of robust tech, what else can they streamline? With this blend of technology and fizzy drinks, the future of beverage logistics looks bright — and some might even say it’s *pop*-ular!
