Supply chain

Last Friday afternoon, Stifel Financial Corp.’s John Larkin hosted a conference call with Blockchain in Trucking Alliance (BiTA) Founder Craig Fuller, President Chris Burruss and 228 industry participants to discuss how BiTA will work as a forum to create standard protocols and procedures for supply chain participants as the industry shifts to blockchain over the next 3-5 years.

The move to a digital supply chain is leaving many organizations behind, according to a new report from Fujitsu. The Digital Transformation PACT surveyed 1,625 business leaders globally and found that 84% say customers want them to be more digital but 71% believe they lag their competitors.

Just as the nation turned its attention away from tropical weather, another threat is now looming for the Gulf Coast and Florida this weekend. Tropical Depression Sixteen is official and on the radar of the National Hurricane Center (NHC), and it has eyes for Louisiana and Florida this weekend.

TMW Systems sees enormous potential with blockchain technology, but notes that successful implementation requires a “strong partnership with a technology provider that understands its intricacies and potential applications.”

As blockchain transactions begin to take hold in the general economy and the supply chain in particular, there is a growing question of how to speed financial transactions. According to Coin Telegraph, the answer may be tokens.

One of the biggest trends in the field of freight logistics is the digitization of the trucking industry, which has a market of over $700 billion every year.

Ports were closed and Florida highways were jammed with people on Friday fleeing Hurricane Irma, as the Category 4 storm approached the state.

An already robust spot truckload freight market is now reacting to the effects of Hurricane Harvey, and with Irma on the horizon and wild fires burning out west, is now showing few signs of slowing down.

Convey, a supply chain visibility and communication company, has secured $8.25 million in Series B funding from Techstars Venture Capital Fund, RPM Ventures, and other investors in a round of funding just announced.

The time has arrived as the Texas coast braces for the nation’s first major hurricane landfall in 12 years. Hurricane Harvey was upgraded this afternoon to a Category 3 hurricane with winds of 125 mph. According to Riskpulse, the forecast track has remained consistent, with landfall later tonight near central Texas.

One of the great vulnerabilities in any nation is the food supply. The movement of food is dependent on many entities ensuring compliance with regulations, proper temperature control, proper handling and cleaning and more, including security. That is where blockchain technology holds great promise.

Mercedes-Benz Trucks, a Daimler brand, has successfully made its first 3D printed repair part.  The part, a thermostat cover for a Unimog model has passed all the stages of the stringent quality assurance process, Mercedes-Benz said.  

The logistics of transporting fresh produce from fields and warehouses to store shelves is already complicated by regulations and the seasonal nature of the products, but Amazon’s entry into the market could further complicate the journey.

According to research from KPMG and HfS Research, more companies than ever are outsourcing their supply chain and logistics services as the job of moving product becomes more complicated. 

Amazon sent shock waves through the grocery business on Friday with its announcement that it will acquire Whole Foods in a deal valued at $13.7 billion, which includes assumption of Whole Foods’ debt. But the purchase may be giving Amazon something even more valuable than Whole Foods’ customers – a distribution network.

On Tuesday, during the company’s shareholder meeting, Tesla founder Elon Musk updated investors on a number of initiatives and pushed back against critics of the Tesla Semi electric truck. Also, when is a fuel tax on a fuel tax, and inside the supply chain’s tech revolution.

J.B. Hunt is investing $2.75 million in the University of Arkansas for creation of the J.B. Hunt Innovation Center of Excellence. The center will allow students to work with J.B. Hunt employees to solve real-word supply-chain problems. Also, tips on surviving a ransomware attack, consumer spending rises, and if there are so many jobs available, where are the workers?

The transportation industry is ripe with startups hoping to be the one that disrupts a $726 billion industry, but without help, most don’t last. Dynamo is a Chattanooga-based venture capital firm that specializes in the logistics space and is helping a few of these startups gain a solid foothold in transportation.

Once a disparate group of entities, the modern supply chain is becoming more akin to a well-oiled machine thanks to technological advances. As it becomes more digitized, the business case for blockchain technology becomes more powerful. 

“The potential here is phenomenal. The match between what blockchain offers and the industry pain points is incredible,” says Bridget McDermott, vice president of Blockchain Business Development for IBM. So what exactly is blockchain?