As e-commerce continues to grow, regulators and consumers are increasingly demanding that online retailers and fulfillment centers prove that their products are, indeed, authentic—and firms within the supply chain are employing emerging technologies to accomplish just that.
The technology creating the biggest media buzz is blockchain, says Rick Fox, president and chief executive of MHI member FOX IV Technologies Inc. and current chairman of MHI’s order fulfillment solutions (OFS) Industry Group.
Blockchain is a permissionless distributed database that maintains a continuously growing list of transactional data records hardened against tampering and revision. While it’s known mainly as the underlying technology under bitcoin, a growing swath of industries are now piloting programs to explore how the technology could be used for a wider variety of purposes, including how to create greater transparency within supply chains.
By Katie Kuehner-Hebert