TORONTO – Walmart Canada has launched a blockchain-based freight and payment network.
The new system uses distributed ledger technology to track deliveries, verify transactions, and automate payments and reconciliation among Walmart Canada and its carriers which deliver inventory to over 400 retail stores across Canada annually.
These goods are transported by a combination of 3rd party fleet as well as Walmart Canada’s own fleet of 180 tractors, 2,000 trailers and more than 350 drivers. Each third-party trailer tracks approximately 200 data points per shipment. Automating this data collection and management using blockchain results in a significant cost-saving.
All Walmart Canada’s third-party carriers are scheduled to be live by February 1, 2020. The solution is accessible using a web portal and an easy to use mobile application.
Walmart Canada partnered with DLT Labs to automate freight and payment data using DLT’s supply chain platform DL Asset Track. The new 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.
The solution automates the myriad necessary calculations enabling real-time invoicing, payments and settlement. It is designed to integrate with each company’s legacy systems.
“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, 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 was the carrier partner in the pilot of this new blockchain-based freight and payment network. “The blockchain initiative we worked on with Walmart and DLT Labs is a mutually beneficial solution that works well for Bison Transport and Walmart Canada,” said Rod Hendrickson, VP 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.”