Walmart Canada and DLT Labs, a developer of enterprise blockchain solutions and technologies, today announced the launch of Walmart Canada’s blockchain-based freight and payment network, the world’s largest full production blockchain solution for any industrial application.
The new system uses distributed ledger technology to track deliveries, verify transactions, and automate payments and reconciliation among Walmart Canada and its carriers which deliver inventory to over 400 retail stores across Canada annually. All Walmart Canada’s third-party carriers are scheduled to be live by February 1st, 2020. The solution is accessible using a web portal and a mobile application.
Bison Transport was the carrier partner in the pilot of the new freight and payment network.
“Great partners find innovative ways to create business solutions that benefit both parties. The blockchain initiative we worked on with Walmart and DLT Labs is just that – a mutually beneficial solution that works well for Bison Transport and Walmart Canada. This project is a new paradigm that will greatly improve workflows, reduce paperwork, and make the business we do with Walmart more efficient.”
– Rod Hendrickson, VP Finance, Bison Transport
New Fright and Payment Network
Walmart Canada’s new blockchain-based freight and payment network manages, integrates and synchronizes all the supply chain and logistics data in real-time, aggregating the data between Walmart Canada and its fleet of third-party trucks on a shared ledger.
The solution also automates calculations to enable real-time invoicing, payments and settlement. At the same time, it seamlessly integrates with each company’s legacy systems, so organizations can continue to follow their existing processes without retraining or new investment in technology.
“Walmart Canada is dedicated to efficiency across our business, including most importantly in our supply chain and logistics management. Our carrier partners move over 500,000 loads of inventory nationally, which creates an extraordinary volume of transaction data. This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners. Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain. Moreover, this degree of improved efficiency represents a powerful platform for us to continue to reduce our environmental footprint and continue our leadership in environmental sustainability.”
– John Bayliss, senior vice-president, logistics and supply chain, Walmart Canada
Walmart Canada’s distribution centers are hubs of activity, with more than 4,500 associates and drivers moving thousands of items daily from sites located in Calgary, Mississauga and Cornwall to stores from coast to coast across Canada. Walmart Canada operates 8.75 million square feet of distribution centers and moves more than 853 million cases of merchandise annually.
This merchandise and goods are transported by a combination of 3rd party fleet as well as Walmart Canada’s own fleet of 180 tractors, 2,000 trailers, and more than 350 drivers. Each third-party trailer tracks approximately 200 data points per shipment. Automating this data collection and management using blockchain aims to result in significant cost-savings.
“Walmart is a global leader in innovation, with a relentless focus on improving people’s lives, and DLT Labs is delighted to partner with such an extraordinary organization to bring the world’s first and largest blockchain solution for industry into production. This proves the high value of blockchain and sets the stage to revolutionize supply chain management and logistics, due to its ability to enable secure information sharing, manage trust and reduce waste in multi-partner operational processes. Just as the Roman’s concept, ‘dictum meum pactum’ (meaning ‘my word is my bond’) was fundamental to building trade, this product creates a secure digital handshake using blockchain to renew trust and efficiency in global trade.”
– Loudon Owen, CEO of DLT Labs