“Behind every great leader there was an even greater logistician.” – M. Cox
There are phenomenal amount of goods that are sent through logistics every single day of our lives, to fulfill and meet customer demand. This is how the modern world functions.
In order to handle more customers, logistics providers must assure an efficient operation by understanding of what it can do to catapult any business into the future. But without transparency and innovative ways to make the process paperless, there is no way to create a truly self-organized logistics system, which able to guarantee delivery, security and efficiency.
Current logistics technology is not sustainable and affordable. Providers still struggle with fuel cost, business process and inventory management. OEL Foundation solving these issues starts with technology. They create a blockchain ecosystem for logistics to provide transparency, visibility and flexibility for all parties involved. OEL technology will enable providers to maximize efficiency across their supply chain, boosting profits, speeding delivery, and reducing costs for themselves and their customers.
The OEL Enterprise Architecture is optimised to satisfy four key criteria for logistics applications:
- Low costs and consistent transaction speed
- Data confidentiality
For enterprise grade applications
- Rewarding data sharing
For bridging the gap between the physical supply chain and the decentralized ledger
- Open collaborative governance
For ensuring standards required of all participants in the supply chain
But technology in itself does not create transparency, thanks to innovative blockchain technologies, a distributed ledger which allows anyone to know that they are transacting with real products & real people by providing evidence for both companies and consumers.
The transparency of a blockchain in the OEL Enterprise Architecture comes from the fact that the holdings and transactions on the supply chain are open to viewing. This level of transparency has not existed within logistics systems before, especially in regards to large businesses, and adds a new degree of accountability that has not existed to date, so that providers can respond to rapidly changing markets and provide appropriate information and data to their customers.
OEL Foundation aims to reduce expenses, improve visibility into the supply chain, effectively manage the supply chain and achieve greater results.