July 8th, 2020 | Updated on June 29th, 2022
Oracle’s offering Intelligent track and trace system is an application that conveniently connects with SaaS and PaaS applications along with other cloud applications too.
You can use it to provide visibility into supply chain networks. The asset owners may use it to track and trace the items and ensure transparency between trading partners.
Often it is difficult to keep an eye on where the product is and how much time will the actual delivery of the product take.
However, Oracles’ blockchain track and trace can help in tackling any kind of disputes, counterfeits, fraud, and any other problems that may arise in ensuring smooth supply chain management.
Features Of Oracle’s Track And Trace
1. Prebuilt And Connected
Since the application is built on Oracle’s enterprise platform you may use it to synchronize with multiple apps.
These include enterprise resource planning, supply chain management, Internet of things, and Customer service apps. You may use it to:
- Extract transactions from different sources
- Provides a detailed view of all business transactions done
- Get detailed analytic reports of a trading partner’s movement on a network.
2. Increased Trust
A record of non-disputable transactions from all partners is kept in the most secure way possible.
The timeline gives you the tracking history along with the attached documents of paperwork formulated at every stage.
3. Fast Results At Reduced Costs
Using Oracle’s intelligent track and trace system customers can easily revolutionize their business by applying new age innovative processes, simplified business processes and thus reduce the costs as well as the time taken.
4. Industry Expertise
Oracle is a renowned name and its Industry expertise is matchless. What’s more, Oracle engages with different supply chain customers as design partners who help them in inventing solutions for multiple industries like:
- Product tracking from the starting point to the retail store for a global retailer.
- Tracing and controlling for a meat producer.
- Tracking perishable products along the supply chain.
- Compliance of regulations for a cosmetics manufacturer.
5. Simulation Capability
The use of built-in simulators gives you the view of the value before all the systems are implemented and put in place.
Simulators can also be good to define all the business networks and how their transactions proceed.
6. End To End Supply Chain Visibility
The visibility of the participating partners is monitored by the founder who decides how each business process would move and influence the work.
7. Stakeholder Privileges
A line of different business heads can help in increasing the rate of innovation thus leading to reduced costs and risks.
Even enterprise managers get the maximum support they require to handle different use cases and tackle deployment.
- Founder– He is the owner who establishes which partners become a part of the network. Being the administrator he takes care of simulations and handling all accounts.
- Endorsing partners– These are the trading partners and define all the rules for establishing the validity of a transaction. They also get to tackle distributed ledgers through personalized copies.
- Participating partner– He is one who just gets to post the documents and see files in read-only mode.