Blockchain and IoT to uncover serious issues in supply chains
27 November 2017
Deloitte explores use cases in new whitepaper
Human rights abuses, noncompliance with regulations, and fraudulent products take headlines when failures in supply chain management are revealed. While notions of transparency, fair trade, and sustainability are gaining importance in customers’ purchasing decisions, most businesses must deal with complex and non-integrated supply chain networks.
Deloitte Luxembourg has investigated how a combination of new technologies can resolve these traceability issues in a new whitepaper entitled “Continuous interconnected supply chain: Using Blockchain and Internet-of-Things in supply chain traceability.”
“As the current standard supply chain process is based mainly on trust, many issues could fall through the cracks,” states Patrick Laurent, Technology Leader at Deloitte Luxembourg. “Redefining the entire system with secure platforms gives peace of mind to each stakeholder while significantly improving efficiency.”
The technology behind sensors and electronic chips is evolving rapidly and renders them increasingly portable. This evolution gives companies the opportunity to attach sensors to physical goods to track their movement and progression, and thereby detect potential failures and fraud. Thibault Chollet, Blockchain Leader at Deloitte Luxembourg, explains further: “If companies combine the data collected by these sensors, with blockchain technology, which provides standardization, transparency, and traceability, they can significantly mitigate their operational risks.”
Read more about the coalescence of these technologies and supply chain management in the whitepaper.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.
Deloitte provides audit, consulting, financial advisory, risk management, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries bringing world-class capabilities, insights, and high-quality service to address clients’ most complex business challenges. To learn more about how Deloitte’s approximately 225,000 professionals make an impact that matters, please connect with us on Facebook, LinkedIn, or Twitter.
About Deloitte in Luxembourg
In Luxembourg, Deloitte consists of 90 partners and over 1,800 employees and is amongst the leading professional service providers on the market. For over 65 years, Deloitte has delivered high added-value services to national and international clients. Our multidisciplinary teams consist of specialists from different sectors and guarantee harmonized quality services to our clients in their field. Deloitte General Services, société à responsabilité limitée, is an affiliate of the Luxembourg member firm of Deloitte Touche Tohmatsu Limited, one of the world’s leading networks of professional services firms.
© 2017 Deloitte Luxembourg.