Oracle Launches New Software Suite for Supply Chain Management

Oracle Corporation has made an announcement that it will provide blockchain-based software-as-a-service (SaaS) applications for supply chain management. The announcement was made public on October 23.

Dubbed as Oracle Blockchain Applications Cloud, is exclusively designed to help supply chains in improving their transparency and traceability. The product comes with 4 applications, i.e. warranty and usage tracking, intelligent cloud chain, intelligent track and train, lot lineage and provenance. By using Hyperledger Fabric, the product focuses on supply chain authentication and transaction efficiency.

The general release of the product was confirmed by the software giant in July this year. A series of trails were conducted soon after the launch. The trails were carried out with different banking and government clients.

According to a report, the product helps users to track the authenticity of product components and temperature-control, and it also reduces paper waste.

Oracle Blockchain Application commits to serve customers like any other blockchain-based supply chain management tool. It allows customers to track products through supply chains, accelerate product delivery, increase transparency, and improve customer satisfaction.

Originally, Oracle Corporation had plans to launch a PaaS product and decentralized – based application in May this year. But then, the company was busy with the Nigerian government, who has been seeking to use blockchain technology for documenting customs and import duties.

In 2018, Oracle Corporation reported revenues worth $39.8B and was listed as the second largest software company by Forbes among 2000 other companies.