Walmart Canada and DLT Labs launch blockchain solution
TORONTO—Walmart Canada and DLT Labs have launched Walmart Canada’s blockchain-based freight and payment network. The new system uses distributed ledger technology to track deliveries, verify transactions and automate payments and reconciliation among Walmart Canada and its carriers which deliver inventory to over 400 retail stores across the country each year.
All Walmart Canada’s third-party carriers are scheduled to be live by February 1, 2020. The solution is accessible using a web portal and an easy to use mobile application.
Bison Transport was the carrier partner in the pilot of this new blockchain-based freight and payment network.
Walmart Canada partnered with DLT Labs to automate freight and payment data using DLT’s supply chain platform, DL Asset Track. The new blockchain-based freight and payment network manages, integrates and synchronizes all the supply chain and logistics data in real time, aggregating the data between Walmart Canada and its fleet of third-party trucks on a shared ledger.
The solution also automates the necessary calculations enabling real-time invoicing, payments and settlement. It integrates with each company’s legacy systems, so organizations can continue to follow their existing processes.
“This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners.” said John Bayliss, Walmart Canada’s senior vice-president of logistics and supply chain. “Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain.”
Walmart Canada operates 8.75 million square feet of distribution centre and moves more than 853 million cases of merchandise annually. Goods are transported by a combination of third-party fleet and Walmart Canada’s fleet of 180 tractors, 2,000 trailers and over 350 drivers. Each third-party trailer tracks approximately 200 data points per shipment.