Our client, a global conglomerate with over a $100 billion in revenues providing the key role of providing refrigeration to the goods during their transportation.
When the goods are transported from source to destination, several parameters have to be monitored constantly to ensure that the goods are being transported on time with appropriate temperature and within the required time. These parameters could be related to fuel, temperature, telematics device data, tyre pressure, GPS info amongst others. There are often several IoT sensors which track this data and is relayed using the telematics device. Incase of delays or contamination of goods, there is often a blame game about the cause of the delay. Each stakeholder has their own source of truth and this leads to delays in reconciliation leading to financial losses.
Our solutions puts all the stakeholders on blockchain and the real data is captured on blockchain using IoT sensors. All stakeholders now have same copy of data in real time. Add to that smart contracts with penalty clauses or emergency calls/notifications and suitable follow-up action in case of breakdown etc. are all rolled into the solution