A consortium that includes AB InBev, Accenture, APL, Kuehne+Nagel and European customs organization today reported it had managed to test out the blockchain technology in shipping industry. The solution assumed all the respective documents to be shared and distributed using blockchain platform instead of traditional exchanging them physically and digitally. The test was comprised of 12 real shipment missions with different locations and thus various regulatory procedures.
In the test scenario, AB InBev acted as a typical exporter, APL - as a shipping organization, Kuehne+Nagel - as freight forwarding navigator and European customs organization - as a regulator. Accenture in turn provided the necessary consulting and product development services on the matters of a blockchain solution.
The test confirmed the blockchain solution capable of reducing operating costs and making supply chain more transparent. The solution indicated significant improvements of the entire flow of shipping documents, almost 80% decrease of data entry requirements, data amendments made easy and streamline the cargo checks.
Our trials have proven the viability of a shipping process in which many documents can be replaced by secure and distributed data sharing with clear and defined ownership. This gives companies a significant opportunity to save time and money while improving their service to customers.
Freight & Logistics Lead, Accenture
Blockchain technology will be transformational to our business and the world. It reduces mistakes, digitizes information and improves the supply chain process so we can focus on our core business of brewing the best beers for consumers.
Vice President, AB InBev