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Coca Cola’s bottlers are looking to blockchain technology to improve the management and efficiency of cross-company transactions, Business Insider reported.
Coke One North America (CONA), an IT platform for the North American Coca-Cola bottling business, is leveraging SAP's blockchain technology to enhance supply chain management.
Previously in May, CONA announced that it migrated its existing SAP HANA on Microsoft Azure. The CONA platform on Azure currently handles 160,000 sales orders a day, which represents an annual $21 billion of net sales value.
"There are a number of transactions that are cross-companies and multiparty that are inefficient. They go through intermediaries; they are very slow. And we felt that we could improve this and save some money," Andrei Semenov, the senior manager at CONA, told Business Insider.
CONA aims to use blockchain technology, which it hopes will help reduce the duration of order-reconciliation from 50 days to a few days. The technology would also allow for real-time visibility of inventory of other franchises, allowing bottlers to make informed decisions to meet a certain order.
By increasing efficiencies for the bottlers, CONA expects the technology to facilitate “greater productivity, lead to cost savings, and speed up cash flow between the franchises.”
As per the report, CONA began the pilot program with two bottlers — Coca-Cola United and C.C. Clark — and is now scaling it across all franchises.
"There was a negotiation and discussion, getting to a consensus of what data we wanted to share," Semenov said. "We started with a huge list of data attributes, and we narrowed it down to the list that everybody agreed on."
Last year, SAP launched two blockchain consortiums – one targeting pharmaceuticals and life sciences industries, and the other aimed at agribusiness, consumer products and retail. Earlier this year, Bumble Bee Foods became the first company to implement SAP blockchain technology.
In January, the German software firm launched a blockchain solution to track and authenticate pharmaceutical drugs. Later in September, it partnered with Chronicled to help pharmaceutical companies to comply with the U.S. Drug Supply Chain Security Act (DSCSA) using blockchain technology.
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