Afternoon Coffee: SAP Pilots Blockchain Tracker for Supply Chain, Tesla Suppliers Worried About Getting Paid

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SAP is working with more than two dozen companies to build an automated blockchain-based supply chain tracking system, ComputerWorld reports. The consortium, which spans the pharmaceutical, produce, technology and shipping industries, enables businesses to build and extend business applications with SAP's MultiChain blockchain service.

Tesla Supplier Payments

A recent Wall Street Journal report detailed concerns about Tesla’s supplier relationships given the electric car manufacturer’s low cash levels. According to a recent survey sent privately by a well-regarded automotive supplier association to top executives, over 80% of respondents believe Tesla is now a financial risk to their companies.

Walmart Sourcing

The U.S.-China trade war is causing Walmart to ask some of its beauty product suppliers to source materials from outside of China, Reuters reports. Many cosmetics products like shampoos, lipsticks and makeup fall under the most recent list of proposed levies on Chinese goods, so Walmart is trying to get suppliers to plan ahead.

Household Savings

And finally, an economic update: U.S. households have begun to reverse their trend of undersaving, The Wall Street Journal reports, with more than ever before socking away a larger portion of their after-tax income. For the first quarter of the year, for example, the Bureau of Economic Activity raised its estimate of the personal savings rate to 7.2% from the 3.3% estimated previously.

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