The co-operative will use the Morpheus system. This platform will provide automated monitoring solutions to activities in the supply chain, which covers 1,400 companies and more than 23,000 workers.
Federated Co-operatives Limited (FCL), one of Canada’s 50 largest companies, partnered with Morpheus.Network, a blockchain-based supply chain middleware platform to improve FCL’s processes. The intention of this important co-operative is to organize its supply chain, which encompasses 1,400 companies across western Canada and employs more than 23,000 workers.
To achieve this purpose, FCL plans to integrate Distributed Ledger Technology (DLT) technology, based on monitoring the supply chain. In this way, the cooperative seeks to bring order and to avoid violations throughout the supply chain.
The companies have signed a three-year agreement in which Morpheus.Network will provide optical character recognition, machine learning, and blockchain technologies to streamline the complex FCL supply chain.
FCL will use the Morpheus system, which seeks to provide automated monitoring and compliance management solutions. This blockchain tool will replace the current FCL manual processes, according to what representatives of the cooperative explained.
“This system replaces a largely manual process in which thousands of regulatory certifications and documents from more than 150 suppliers are collected and managed by FCL, which all need to be scanned, validated, processed and tracked”, representatives of the Canadian cooperative explained.
FCL Supply Chain Manager, Raymond Gareau, noted that blockchain technology makes it possible to increase the efficiency of “supplier document validation and management processes”. Gareau commented that this is a result of DLT integration.
“Next up, we are looking at the overall visibility of our supply chain from suppliers to FCL warehouses”, the supply chain manager at Federated Co-operatives Limited said.
About FCL
Federated Co-operatives Limited is a wholesale, manufacturing, marketing, and management co-operative opened by more than 170 independent retailer associations.
This co-operative mainly operates in four sectors: agriculture, food, energy, and home and construction solutions. These sectors include bars, convenience stores, agricultural centers, and propane plants among other businesses in that sector.
The cooperative has been successful. In 2019, it generated USD 9.2 billion, according to local media.
Major Companies Adopt Blockchain
As FCL, companies from other countries in the world are using blockchain technology in their daily operations.
One of these companies is BMW, the German luxury car and motorcycle maker BMW that announced it will launch its blockchain-based supply chain solution among 10 providers during 2020.
Besides, the platform, PartChain, was tested during 2019 in two of BMW’s 31 plants and three locations of its supplier, Automotive Lightning.
BMW will also provide the platform to members of its Mobility Open Blockchain Initiative. This initiative was co-founded by automakers BMW, GM, Ford, and Renault, along with technology firms Bosch, Hyperledger, IBM, and Iota.
In this way, the adoption of Distributed Ledger Technology continues in major multinationals that seek to implement greater order in their operations, protect their processes by storing information in an unalterable way, and guarantee that only authorized parties participate in them.
By María Rodríguez
