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Walmart Canada and DLT Labs launch e-procurement DLT solution

Monday 18 November 2019 12:21 CET | News

Walmart Canada and enterprise blockchain solutions provider DLT Labs have launched Walmart Canada's blockchain-based freight and payment network.

The new system uses distributed ledger technology to track deliveries, verify transactions, and automate payments and reconciliation among Walmart Canada and its carriers, which deliver inventory to over 400 retail stores across Canada annually. All Walmart Canada's third-party carriers are scheduled to be live by February 1, 2020. The solution is accessible using a web portal and an easy to use mobile application.

The new blockchain-based freight and payment network manages, integrates and synchronizes all the supply chain and logistics data in real time, aggregating the data between Walmart Canada and its fleet of third-party trucks on a shared ledger. The solution also automates the necessary calculations enabling real-time invoicing, payments and settlement. At the same time, it seamlessly integrates with each company's legacy systems, so organizations can continue to follow their existing processes without retraining or a new investment in technology.


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Keywords: Walmart Canada, DLT Labs, freight and payment network, blockchain, e-procurement, B2B payments, supply chain finance, supply chain logistics, blockchain payments
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Canada
This article is part of category

Banking & Fintech