Oreo maker Mondelez taps into DLT for supply chain innovation and digital payments.
Mondelez International, the powerhouse behind beloved brands such as Oreo and Cadbury, has recently taken a significant step into the future of technology and supply chain management by joining the Hedera Council. This move marks a pivotal shift towards embracing distributed ledger technology (DLT), which is expected to revolutionize how the company tracks its supply chain and manages digital payments.
DLT, a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time, offers a range of benefits over traditional databases. Unlike traditional databases, DLT has no central data store or administration functionality. By joining the Hedera Council, Mondelez International is tapping into Hedera Hashgraph's unique hashgraph consensus, which is renowned for its high transaction speeds and quick finality. This technology is not only poised to enhance the efficiency of Mondelez's operations but also to bolster the transparency and traceability of its supply chains.
Mondelez's collaboration with Hedera is set to focus on several key areas. One of the primary goals is to transform the supply chain management process. By leveraging DLT, Mondelez aims to gain better visibility and control over the journey of its products from production to consumption. This could lead to significant improvements in tracking the authenticity of goods, ensuring compliance with regulations, and potentially reducing the risk of counterfeit products.
In addition to supply chain management, Mondelez is working with SKUx to offer digital payment options that go beyond traditional coupons. This initiative is expected to enhance the customer experience by providing more convenience and personalized offers. It represents the first real-world adoption of DLT in tracking the supply chain of consumer-packaged goods and is a testament to Mondelez's commitment to innovation.
The integration of DLT into Mondelez's operations is not just about keeping up with technological advancements; it's also about driving business efficiency and sustainability. The enhanced tracking capabilities provided by DLT can lead to more streamlined operations, reducing waste and improving resource management. Furthermore, the transparency afforded by DLT can help Mondelez in its efforts to maintain ethical sourcing and production practices, which are increasingly important to consumers.
