International fashion brand Desigual plans to start tracing the movement of supplies on a blockchain platform in a bid to bring more transparency and robustness to its supply chains.
- For the initiative, announced Tuesday, Barcelona-headquartered Desigual will use the Marco blockchain platform from Finboot to track supplies from initial order to arrival at its distribution centers.
- There are a number of logistical milestones that need to be met ahead of the products arriving with Desigual, according to the announcement.
- These include the negotiation of a lead time for each product line in the purchase order with suppliers and the organization of transport for the finished goods via freight forwarders.
- When problems arise in the supply chain, a lack of visibility can make it hard for the fashion firm to spot exactly what and where the issue is.
- The "track and trace" platform will be able to warn of possible delays and help improve insight into delivery operations, all in "near real time," Finboot said.
- “Having transparent, resilient supply chains is of paramount importance to us as we look to both increase our operational efficiency and gain greater insight into our production processes," said Javier Fernandez, technology innovation leader at Desigual.
- In the future, Finboot said the tracing initiative may be expanded across Desigual's entire supply chain, "from purchase order to end consumer."
Read more about
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.