How technology has transformed logistics

Trust has always been a major part of what makes trade possible. The international trading system has come a long way, and today we have technologies that have the potential to allow all parties in a supply chain to trust each other with fewer intermediaries and costly documentation.

To assess how businesses could leverage these technologies, the CommBank Innovation Lab and a team of bankers, trade specialists and tech experts came together for an experiment we call Trade-chain.

After identifying what the industry could improve and how, we built and tested a platform that traced a shipment of almonds from regional Victoria, through the rail network, onto a ship at the Port of Melbourne and across the seas to Hamburg, Germany.

The journey of these almonds transformed the way we think about logistics.

Doing more with less

Previously, we had 5 siloed companies working independently. But now, with blockchain and Internet of Things technology, they can work together with visibility over the supply chain from end to end.

The transported goods are given a unified, secure record of their whereabouts, which can be checked via a web app at any time. This results in smarter planning and potential cost savings throughout the supply chain.

Meet the pathfinders

The Trade-chain experiment was a collaboration between Olam Orchards Australia, Pacific National, Patrick, Port of Melbourne and OOCL with CommBank and Internet of Things technology provider, LX Group. Hear more about their involvement below.

Sophie Gilder, CommBank

Our Head of Blockchain talks about facilitating this experiment and how it positions the bank to break through together with businesses.

Russell Guinane, Patrick

 Patrick Client Services Manager, Russell shares his insights about the evolution of the stevedoring and shipping industry.

Paul Williams, Pacific National

The rail freight operator was keen to explore the opportunity to increase efficiency. Pacific National’s CIO explains what needed to be done.

Emma Roberts, Olam Orchards Australia

Olam’s Supply Chain Manager is excited about the brave new world of logistics.

Inside the mission to ship Australian goods across the world and track the process using blockchain

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