CASE STUDIES

All of our use cases stem from problems that were resulting in lost time, lost money, and products not being available or not being correct. At its core our MaverixTM platform provides end-to-end management and insights into the supply chain system, with the added security and assurances Blockchain provides. Through additional modules you can add benefits like smart contracting, mapping, and data analytics.

Problem: End-to-End Transparency

The customer wanted holistic insights, control and security over a very complex supply chain they managed. They needed a way to aggregate a lot of data that was distributed on multiple and varied platforms, including faxes, emails, letters, and white-boards. There were too many disparate systems feeding into the chain, auditability challenges when there were discrepancies or disputes, and general inefficiencies in accounts payable and communications among partners and vendors. Most importantly they needed all the data in the supply chain to be irrefutably secure.

Solution

Our supply chain dashboard gave the customer end-to-end management of their vehicle supply chain workflow – from inception through destruction. And the backbone is our flexible, secure, and private blockchain technology. Every supplier, every partner, every contract is integrated into the system, allowing the customer to easily see what is going on, at any point in the process. They can drill down and view any point in the lifecycle – who touched, moved, or destroyed critical assets in their supply chain. And best of all, every record in the blockchain is immutable so there never had to guess whether their data was trustworthy.

Problem: Inefficiencies and Lack of Consistency

There was no consistency to the customers’ operations; everyone was utilizing their own approach. The end result was a supply chain that was cobbled together with no holistic design and was grossly inefficient. There were multiple stakeholders and no one with direct ownership. Plus, they suffered from high turnover which resulted in no continuity of care. This decentralized management was further exacerbated by the organic nature of supply chains and ultimately resulted in many custom-tailored work arounds and inefficiencies. Processes such as compliance or credit checks were happening manually and required weeks.

Solution

Our system provided all parties within the customer’s supply chain access to the same information, potentially reducing communication or transfer data errors. Less time was spent validating data and more time was spent on delivering goods and services – improving quality, reducing cost, or both.

The system also streamlined administrative processes by enabling an effective audit of the data processes, ultimately reducing costs. We accelerated their manual processes through a distributed ledger of all relevant information. Lastly, by enabling the automation of production activities throughout the supply chain we significantly decreased the potential for human error. As a result, inaccuracies that lead to miscommunications and conflicts were erased. The customer has a much more efficient supply chain.

Problem: Contracting

The customer needed a way to conduct their contracting in a more efficient, effective, and error-proof manner. Traditional databases weren’t giving them the control and efficiencies they needed. Proposals were siloed from the rest of their supply chain, and they knew if they happened to procure a faulty part it was going to be hard to quickly identify where it came from and where else it might be in their chain. Sometimes it could take months to find the source of a contaminated or faulty product. Our customer didn’t want to be forced to shut everything down while they searched it out, especially when they knew that, during that time, vendors or partners could modify records to cover their tracks.

Solution

Our smart contracting module allows the customer to track acquisitions, connect with vendors, gather electronic signatures, have one centralized repository of questions and answers, capture vendor performance, and conduct invoicing – all from one easy to use dashboard. And with integrated procurements all their purchases are identifiable by lot number, vendor, date, quantity, style, etc. Plus, it’s all backed by our flexible and secure private blockchain technology, so they have complete confidence that the data they’re reviewing – from timesheet hours to payment amounts – is accurate. Now when our customer has a problem, they can immediately identify who, what, where, and when. This has saved them millions of dollars in lost production time.

Problem: Poor Data

A lot of supply chain data is reliant on humans entering data via spreadsheets, documents, emails, and even hand-written white boards. This leaves a lot on the table and our customer realized they may not even know what’s erroneous or missing. Troubleshooting in the old structure took too much time – they would call around and ask for documents to be sent – and even if they could eventually pinpoint problems, it would often be too late. They were often blindsided by maintenance or replacement needs on their products. There also had security breaches – everyone does – but they were not discovered until many months later. There was an overall inability to identify issues quickly, both within phases of the supply chain and certainly if the issue spanned the entire lifecycle.

Solution

We don’t believe in aggregating data for data’s sake. Our dashboards not only help with accountability and auditability but they offer predictability. Using Tableau, we display all relevant data so the customer can track product or material performance, vendor performance, budget data, and more. From there we utilize machine learning to predict trends and anticipate needs such as upcoming maintenance or replacement timing. And since all this real-time data is secured in our blockchain technology, the customer knows they can trust the data and therefore the forecasting and predictions they’re making from it. Ultimately it improved their operations and created a better customer experience.

Problem: Lost Goods

“Track and trace” – the ability to see where goods are as they’re being transported – is a big part of supply chain management. Because let’s face it – stuff disappears. Our customer was using spreadsheets and whiteboards to achieve this, but they couldn’t see everything in relation to each other. They wanted to get better control of their items and reduce loss.

Solution

We offer integrated mapping that makes it easy to track and trace. Our process and workflows are intuitive and make it easier for users to enter their data. And since it’s all secured in our blockchain platform, the data is secure and immutable. Our customer has seen a reduction in products lost throughout the chain, saving them time and money.

Problem: Vendor Management

The customer had numerous vendors they were working with throughout their supply chain, all of which were maintained in silos providing no insights into the overall process.

Solution

Our vendor management module gave the customer consolidated vendor data in one easy to use dashboard. They had visibility into every vendor throughout the supply chain, allowing them to view material history or status on a product, gain details on shipment or delivery information, and communicate with each vendor on contracts, timelines, invoicing or deliverables. Since everyone involved understood the data was backed by blockchain, the solution engendered trust and transparency between all parties.

Problem: Quality Control

The customer wanted complete confidence that there had been no tampering of any component of their circuit board throughout its product lifecycle. As much as they tried to keep track of everything, traditional databases were left holes in the process and relied too much on human input.

Solution

We implemented a module of our product that provides a digital version of Tamper Evident Security (TES) by which the customer can be absolutely certain that the chip sets and boards they have flowing through their supply chain remain the same from beginning to end. Every step of the process is validated and stored in the blockchain and relies on an objective source of truth as validation – ensuring that no bad actor(s) have modified or tampered with a chip along the way.

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