About Oracle Intelligent Track and Trace Cloud Service
One of the major challenges in the current supply chain models used in the industry is tracking transaction assets across multiple trading partners. Due to lack of transparency and visibility between the various parties involved in the supply chain, maintaining asset information continuity across enterprise boundaries is arduous.
Blockchain technology enables the network of business partners to agree upon key pieces of information which can be shared across organization boundaries. This fosters a trust relationship between supply chain participants, ensuring smooth movement of non-repudiable information.
Intelligent Track and Trace builds on the Oracle Blockchain Platform to enable end-to-end traceability of assets, products, and transaction documents in supply chains to reduce delays and automate record keeping. This business-ready blockchain application provides a digital ledger of products, documents, and movement of all these assets in your business network. You can now track and manage each of your transaction data and assets in real time, define policy and exceptions, resolve disputes, improve regulatory compliance, and gain business insights using advanced analytics.
Business Benefits
- Product Tracking: Intelligent Track and Trace enables you to track all the activities in a typical supply chain. It also provides the tracking of lot-controlled and serial-controlled items and packages and can track events across sourcing, manufacturing, storage, sale, shipment, or returns. This capability to track events affecting serial or lot-controlled items enables Intelligent Track and Trace to support comprehensive backward or forward trace for any given product. You can scroll through complete history of all related transaction documents and environmental (IoT) data in a complex supply chain spanning multiple organizations. For example, a pharmaceutical company manufacturing vaccines can track raw material, such as vials, arrivals from suppliers. It can track current location of the raw material, shipping details, quality and condition (temperature/humidity etc.) of the raw material delivered.
- Dispute Resolution: Using Intelligent Track and Trace you can setup rules and policies in the form of complex smart contracts and can track compliance and exceptions. In case of any dispute, you can track and trace back to the root cause. For example, a doctor in hospital determines that the consistency of vaccine is unusual. As a pharmaceutical company manufacturing vaccines, you can trace through the supply chain to find what went wrong.
- Business Insights and Analytics: Intelligent Track and Trace offers cross-organization business insights at various level of details, starting from the bird's eye view of the business network, to full visibility of all transaction documents. The application also provides the ability to drill down to specific transaction documents, such as those with failed smart contract business rules. You can view issues with smart contracts in any part of the supply chain to downstream organizations, calculate statistics based on end-to-end view, and predict delays or yield issues.