Oracle recently unveiled the new Oracle Blockchain Applications Cloud, a new suite of use-case-specific software-as-a-service (SaaS) products to improve transparency throughout the supply chain. Oracle Blockchain Applications use Oracle Blockchain Cloud Service and connect to Oracle Supply Chain Management Cloud, Oracle Enterprise Resource Management Cloud, and a variety of other Oracle Cloud Applications.
These new tools allow users to track products on a distributed ledger all the way through the supply chain. So you no longer need to sort through millions of data points and transactions to make sense of product distribution. Some organizations may be able to accelerate product delivery, improve customer satisfaction, and gain better visibility across multi-tier supply chains.
Here are some of the most notable new features of Oracle Blockchain Applications Cloud to be aware of.
Intelligent track and trace in Oracle Blockchain Applications
This feature lets you trace goods and transactions throughout the entire supply chain to hopefully reduce confusion and delays. Essentially, it creates a digital trail of each step in the network automatically, from procurement to transportation. So if there’s an issue, you can pull up an automated root-cause analysis and resolve disputes faster.
Lot lineage and provenance
This feature is designed to give you access to product genealogy, serialization, and provenance. It manages the lifecycle of products’ hierarchical serial numbers, including the origin of product components and all transformations of the product. It’s meant to help companies manage their regulatory compliance data, along with targeted recall and counterfeit prevention.
Intelligent cold chain
For temperature-controlled supply chains, this feature automatically monitors and tracks conditions. It can also create recommendations to optimize processes and ensure quality and safety for refrigerated products, particularly those in the pharmaceutical and food industries.
Warranty and usage tracking
If you’re looking to upgrade paper-based processes, this new feature automates usage tracking for high-value assets. It provides a verifiable log that you can use for any warranty, liability, or insurance claims. It’s meant to speed up claims and settlement processes and prevent any abuse of assets.
Internet of Things connectivity
Oracle Blockchain Applications use IoT connectivity and AI features to leverage real-time data and improve the accuracy of the data in customers’ business networks. The company develops these new tech features to improve various aspects of their SaaS tools, so they can have a major impact across all applications.
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