TOP > News > Blockchain Technology Has Created New Opportunities For the Philippine Logistics Industry
August 28, 2019 Published

Blockchain is set to “improve the traceability and security of product sourcing and supply chain.”

August 28, 2019 – Technology has brought about massive changes in the supply chain and logistics industry in the Philippines.

In a statement to the Manila Times, Procurement and Supply Institute of Asia (Pasia) Board Chairman Charlie P. Villasenor said changes brought about by technology created “tremendous pressure and new opportunities.” He cited the following digital trends that are affecting the supply chain, procurement, and the logistics industry:

  • blockchain technology
  • robotics process automation
  • drone integration
  • sensors and wearables
  • cyber tracking tools

Blockchain is set to “improve the traceability and security of product sourcing and supply chain.” As for robotics process automation, it allows the creation and performance of rule-based tasks, which in turn, allows the automation of repetitive procedures. Thus, it allows the companies to be efficient because the technology reduces errors. Drones allow carrying of sensors for more efficient tracking while cyber tracking tools allow monitoring and securing logistics activities.

Paisa is a global institute for supply chain, procurement, and logistics that aims to make the Philippines the supply chain capital in the world.

Many think the supply chain industry is poised to be disrupted by blockchain. Writing for Forbes, Business Advisor Bernard Marr said blockchain “provides consensus – there is no dispute in the chain regarding transactions because all entities will have the same version of the ledger.” He cited how international companies like Unilever and Nestle use blockchain to keep track of the sources of food produce; where each meat came from, processed, stored, and sold.

This article is published on BitPinas: Blockchain Technology Has Created New Opportunities For The Philippine Logistics Industry

Source: The Manila Times

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