Supply chains can be complicated.
Imagine for a moment that an operator checks the wrong item off a checklist or a raw ingredient with traces of Salmonella causes foodborne illnesses. On top of that, billions of dollars are lost in product recalls, commodity loss, inventory replacement, removing goods from shelves, loss of sales and brand reputation.
The effects of poorly managed supply chains can affect entire industries. In May 2011, an outbreak of gastroenteritis was identified by German officials. It was first suspected that cucumbers from Spain were the source of the outbreak. Consumers were
told to dispose of all cucumbers, tomatoes and lettuces. The salad produce industry took a massive hit and fresh produce was thrown out all over Europe. In the end, the culprit was found to be fenugreek sprouts.
VeriDoc Global has developed a supply chain solution that leverages blockchain technology and smart contracts. Our system verifies that each step in the supply chain has registered a “digital handshake” that marks exactly when and where the goods have changed hands. This makes it clear who is liable for products every step of the way.