Ernst & Young Supports Blockchain For Automotive Supply Chain Mgmt

 

In a recent press release from Ernst & Young, a global leader in assurance, tax, transactions and advisory services, an announcement was made regarding the company’s support on blockchain technology.

Ernst & Young and Equidato will present to the NEWMATEC 2018 Conference the unique concept of blockchain technology supporting automotive supply chain management.

Equidato Technologies is a company closely working with Ernst & Young who specializes in integration of blockchain with enterprise applications, primarily with IoT technologies. They have developed the SophiaTX blockchain which focuses on blockchains integrating with large enterprise systems.

The NEWMATEC Conference will be held March 13-14th at Partizán Hotel, Tále, Slovakia.

blockchain newmatec




Ernst & Young state the biggest challenges which car makers currently face is management of supplier relations.

“Manufacturers and large suppliers at higher supply chain levels typically
use robust ERP systems, whereas suppliers at lower levels of the chain use less sophisticated solutions or even office applications. Heterogeneity and interconnectivity of IT environments and insufficient visibility of relevant information among individual actors in the supply chain represent the main technical problems requiring a response.”

One possible solution to such discrepancies will be the implementing of blockchain technology which includes shared, transparent ledgers of transactions, trust with out centralized authority, and shared consensus principles and timestamps. The future solution will also provide other advantages, such as access of all entities to up-to-date and reliable data on events in the supply chain, harmonization of data from various ERP systems and more targeted setting of production plans by OEM plants

Ernst & Young and Equidato could not find a better audience to present their blockchain concept and developments to as some of the largest automobile manufacturers (Volkswagon, Kia Motors, PSA Peugeot, + more) and suppliers of automotive parts will be in attendance at the conference.



 

 

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