Supply Chain Optimisation

Supply Chain Optimisation

The benefits of the HydroLink Platform are far from limited to our certification solution, with the supply chain optimisation protocol offering meaningful insights for business, vendors and consumers. Traditionally, bill of ladings, which can be thought of as a receipt, have been physically printed and manually transferred between parties. The issues with such ancient methods are obvious. Physical documents can easily get lost or stolen. Only those in possession of the document can view the details immediately. They are also tedious to digitise and transfer to a computer.

Immutable Record Keeping

HydroLink believes these issues will soon be a thing of the past with both blockchain and smart contract technology adoption imminent. HydroLedger will securely store a user's bill of lading, which will help simplify insurance claims and their respective outcomes and eliminate fraud. Any consumer in possession of a registered product on the HydroLink platform can access the entire history in seconds removing the need for phone calls and paper audits.

Carrier Management

Carrier onboarding is yet another area where blockchain will be instrumental to future supply chain optimisation, deployed across every industry reliant upon carrier transport. Currently, there is no comprehensive database of carrier ratings. Resultantly, each company must expend resources gathering reliability statistics, verifying insurance, cross-referencing driver qualifications and doing internal due diligence. Blockchain will forever alter these expensive, time consuming and outdated methods, equipping businesses worldwide with a shared database they can use to rate carriers and save themselves the time and hassle of internal screening processes.

Automation & Smart Contracts

The logistics sector will also enjoy the benefits that smart contracts bring. A business can deposit into an escrow account that releases the stored funds when the agreed-upon asset is certified as delivered at its final location. This seamless process leads to quicker payments to logistics companies and will reduce their operating costs and fees. Further, bypassing countless intermediaries reduces manual paperwork and invoicing, leading to even more time saved and costs cut.