[vc_row] [vc_column] [vc_column_text]
The combination of Blockchain and ERP produces a reliable record-keeping system that can be shared between different partner companies.
First, let's understand what Blockchain is.
Blockchain is an electronic ledger – similar to a relational database – that can be openly shared between public or private users and creates an immutable record of transactions, each with a date and time stamp and linked to the previous one.
Each digital record or transaction in the chain is called a block and allows an open or controlled set of users to participate in the electronic ledger. Each block is linked to a specific participant and can only be updated with authorization from all system participants; new data entered can never be deleted.
Blockchain capabilities are constantly evolving with new features or complementary applications. Because it is not regulated by a single control center, as can be the case with system administration, there is no single point of failure. In a company, theoretically, there would be no need for an IT professional to monitor security in a Blockchain database.
Public blockchains allow anyone to view or submit transactions, as long as they are part of the consensus process, while private blockchains have only a pre-selected number of authorized nodes.
Blockchain doesn't simply solve the problem of data access or sharing; it also solves a trust issue, since companies have always been concerned about keeping their data confidential.
Blockchain gives you permissions to control your information and grant access only to those you want to grant access to, in an easy and secure way.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”1493″ img_size=”full” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
Blockchain and ERP
As Blockchain matures, ERP vendors are working to integrate distributed ledger technology as a traceable and immutable record for everything from shipping manifests and supply chains to equipment maintenance and dispute resolution systems.
The value gained through integrating Blockchain with ERP systems comes from extracting existing data from corporate systems and having strict control over who shares it.
It is important to note that Blockchain is not intended to replace ERP systems, but rather to be a complementary application that can simplify integration between parties and reduce vulnerability due to its inherent security.
Integration example
An example of integrating Blockchain into organizations' ERP systems is in the aviation and energy sectors. Commercial airlines, such as KLM Royal Dutch Airlines, Emirates Airline, Southwest, and South China Airlines, utilize this model, which can be used for asset management, including tracking supply chains, parts shipments, and even recording and verifying maintenance work by commercial airline pilots and maintenance workers for parts suppliers.
A modern aircraft is composed of 2 to 3 million parts. With integration, each part is tracked, and when maintenance is performed, this work must be recorded. The problem is that each entity in the maintenance chain, from the airline operator and maintenance group to parts suppliers and regulators, is usually on different software systems. Even when using integrated systems, communication may not be standardized, often being verbal, which can lead to failures in tracking operations. Integration minimizes this process and facilitates communication between the parties involved.[/ Vc_column_text] [/ vc_column] [/ vc_row]
