Successful Supply Chain Management Pilot Project Launched by IVHIMPROM and Credits Blockchain
Previously partnered Credits and JSC IVHIMPROM announced the successful launch of a pilot project aimed at automating the supply chain of the plant.
The representatives of JSC IVHIMPROM and Credits have successfully deployed a pilot project as part of a working group for automating supply and sales management systems. The system operating on the basis of software provided by the Credits Blockchain Platform can also be used for tracking the supplies of raw materials and finished products within the IVHIMPROM plant.
During the preparation phase of the pilot project, the business model of the company was analyzed and the main business goals of the enterprise were determined by taking into account key indicators and performance evaluations. The main goals of launching the pilot project were the reduction of the company’s operating expenses as well as the increase of transparency of operations and data on counterparties.
The use of blockchain technology ensures the immutability of data on shipments, deliveries and transactions. The immutability of operations-related data will allow the operators to have indisputable proof of production and delivery records. The new system will also be able to negate the possibility of distortion and fraud on the part of both suppliers and contractors.
The management of JSC IVHIMPROM is certain that the application of such a transparent system for tracking the supply of products will provide transparency in pricing and ensure a higher quality of raw materials, thus ensuring the future growth of the company.
The pilot project is an important step for the Credits blockchain platform for confirming the viability and effectiveness of its technology in large businesses. The company’s management believes that the successful implementation of the pilot project will provide greater collaboration opportunities with other potential partners.