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Authors:
Published by:
Amity Research Centers (2019)
Length:
10 pages
Data source:
Published sources

Abstract

The food industry was complex in nature and so was handling the various parties involved in the food supply chain. It required different types of record keeping methods. Due to the complexities involved in the food supply chain, it could take days or even weeks to find out the real reason in case of an outbreak and to recall the appropriate products. To overcome such issues, some of the companies in the food industry had joined hands with tech titans to incorporate blockchain in their supply chain. In 2017, Walmart partnered with IBM to improve the transparency and traceability of its entire supply chain network with the help of blockchain technology. Walmart decided to take the blockchain plunge after the E.coli outbreak in romaine lettuce in California which resulted in the death of five persons and sickness of about 200 people. Walmart also made it mandatory for suppliers of green leafy vegetables to implement 'real-time, end-to-end traceability of products back to the farm' using blockchain technology by September 2019. However, analysts viewed that it was challenging for the company to change the mindsets of people in the food supply chain to adapt to the new technology. Nevertheless, some of the industry observers viewed that blockchain would play a transformative role in the food industry. Amidst this scenario, it remained to be seen, whether Walmart would be able to derive success in the coming years by being an early adopter in deploying blockchain technology?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Topics

Walmart; Blockchain technology; Blockchain in supply chain management; Food industry; Blockchain in food industry; Competition; Product identification; Marketing; Food safety; Digital technology; Infrastructure management; Supply chain network

Setting

The events covered by this item took place in 2018.

Geographical setting

Region:
Americas
Country:
United States

Featured company

Company name:
Walmart
Employees:
10000+
Turnover:
USD 500.34 billionĀ 
Type:
Public company
Industry:
Retail

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