Until now, blockchain remains a highly discussed topic, however the newest report from Gartner states that the results from current blockchain pilots do not live up to the initial enthusiasm for the technology’s value in supply chain management.
‘The lacking success is mainly because of a combination of technology immaturity, lack of standards, overly ambitious scope and a misunderstanding of how blockchain could, or should, actually help the supply chain’ states Ms Alex Pradhan, senior principal research analyst at Gartner. At the moment, blockchain projects in supply chain management are challenging as there are no complete and packaged blockchain solutions yet. Their suggestion is to wait and avoid early adoption until core capabilities of the blockchains for supplier management are recognizable.
Companies are struggling to identify and address strong specific use cases and are forced to trial-and-error approaches. The consulting firm predicts that 90% of the supply chain initiatives based on blockchain technology will show signs of ‘blockchain fatigue’ by 2023.
At sustainabill, we use proven technology to handle the complexity of global supply chains. Our platform builds on graph technology and is able to integrate data from any tracking system and also from blockchain solutions to visualize the data and analyze the impact from specific risks on the entire supply chain network.
Read more about the analysis of Gartner on blockchain technology in supply chain management here.