Mercedes-Benz to incorporate the blockchain technology in their supply chain

• Mercedes Benz has become one of the first global auto companies to incorporate the blockchain technology in their supply chain.
• They have collaborated with enterprise contract management platform, Icetris, to launch the prototype of its new blockchain-powered system.

Mercedes-Benz became one of the first global auto companies to incorporate the blockchain technology into their supply chain. The company collaborated with enterprise contract management platform, Icetris, to launch the prototype of its new blockchain-powered system.

Wilko Stark, Member of the Divisional Board of Management Mercedes-Benz Cars, Purchasing and Supplier Quality, said:

“Blockchain technology has the potential to fundamentally revolutionize our procurement processes and could affect nearly the entire value chain. Global supply chains are becoming increasingly complex. With our Blockchain-prototype, we are in the first step testing one of the diverse possible applications with the aim of increasing transparency beyond our direct suppliers.”

Sabine Angermann, Head of Purchasing and Supplier Quality for Raw Materials and Strategy, added:

“The transmission of contracts to each member of the supply chain is the prerequisite of cooperation with our suppliers, especially in terms of sustainability and ethical conduct. The Blockchain prototype opens up completely new ways to make purchasing processes simpler and safer.”