DEF stands for Data Exchange Framework, powered by our flagship award winning GovBlocks Protocol. DEF is built to empower data exchange in complex supply chains to implement a single version of truth across all stakeholders. It leverages blockchain to enable secure, approval-based exchange of information to provide decision making capabilities across the value chain.
Access to a single version of real-time critical data such as raw material movement, just in time inventory, long/short term contractual supplies, claims, quality-related data is streamlined with the use of GovBlocks powered DEF.
Key processes that get impacted by efficient data sharing:
Most supply chains suffer from disintegrated data that is maintained in silos across each stakeholder resulting in inefficiencies that affect businesses globally
In an era of increasing digitalisation, efficient data sharing must be prioritised to curb productivity losses, increase employee satisfaction and improve the bottom line.
average time wasted daily by employees working with inefficient systems
of employees in the UK are not confident about the accuracy of data within their company’s internal systems
Average amount wasted by businesses in productivity each year as a result of inefficient data/knowledge sharing
*Acording to a recent study by The Access Group
Transparency of equipment maintenance records across airlines, OEMs, MRO service providers and aviation authorities along with the ability to trigger appropriate maintenance checks. Results in reduced layover times and increased aircraft value in the resale market.
A solution to empower female weavers who receive payments straight to their bank accounts the moment a garment is purchased by the end customer. End consumers can also see a trustworthy trail of all weavers involved in the production of the garment.
A single version of truth across all stakeholders in the supply chain for better accountability and fair reward distribution. Immutable, auditable trail of data for enhanced insights and prediction models.
“They (Somish) are trying to drive, with their GovBlocks project, a real change in the way we do governance... (Somish) is an example of a startup trying to disrupt governance model using blockchain.... governance is going to be an absolute critical element of successful blockchain implementations...”
VP & Gartner Fellow
Traditional: Demand forecasts originate from retailers and flow through the chain back to the raw material suppliers; however, there is a considerable amount of time lag in getting data across through to the suppliers
DEF: As soon as the retailers update the demand, data is instantly disseminated across the chain without any time lag
Traditional: Demand is typically shared in form of orders, which are a processed result of various information by the buyer; hence, orders’ data often distort the true dynamics of the supply chain (also known as bullwhip effect)
DEF: Smart contracts marry sales data with demand forecasts and inventory data to ensure all stakeholders have the right inventory levels
Traditional: Real-time delivery status is either not tracked or tracked through inefficient media such as email, mobile messages or chat applications
DEF: Real-time delivery information is shared across relevant stakeholders through pre-configured trigger events
Traditional: Each stakeholder maintains localised inventory details; information sharing process is manual and hence, leads to a considerable time lag
DEF: Smart contracts automatically trigger alerts based on predefined levels, ensuring the inventory is always monitored
Schedule a free 30-min call with our team of blockchain aficionados! Trust me, you won’t be disappointed :)