Afternoon Coffee: IBM-Maersk Blockchain Initiative Gains Steam, Japan Heatwave Strains Beverage Supply

AdobeStock/alekosa

The IBM-Maersk blockchain initiative dubbed TradeLens got a boost Thursday when the companies announced the venture now includes 94 key supply chain participants, Supply Chain Dive reports. Trials of the technology, which aims to reduce logistics delays and minimize documentation errors, are ongoing, but the companies said they expect full commercial availability by the end of 2019.

Free procurement software rankings, updated quarterly: Access the Spend Matters Q2 2018 SolutionMap.

Beverage Drought

Food and beverage companies are scrambling to maintain supplies of frozen desserts and cold drinks in Japan, which has suffered an unusually long heatwave this summer, according to Nikkei Asian Review. Multiple businesses have had to suspend deliveries until September due to lack of supplies. High temperatures across the country are expected to continue through the end of August.

SC Exec Moves

Lowe’s CEO Marin Ellison has been on a hiring spree as of late, and his latest high-profile recruit has come to lead the company’s supply chain, Bloomberg reports. The home-improvement retailer has named Donald Frieson, a former Walmart executive, as its new executive president of supply chain. Frieson will be responsible for distribution centers, sourcing and delivery services.

Oil Prices 

And finally, a commodities update: Oil prices plunged Wednesday to their lowest level in nearly seven weeks, The Wall Street Journal reports, falling 3.2% to $66.94 a barrel on the New York Mercantile Exchange. Escalating U.S.-China trade tensions and a reported seven-month high in U.S. oil stockpiles drove the drop.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.