Latest Report Verifies Blockchain’s Effectiveness in Retail Sector via Enhanced Data Sharing
The Auburn University RFID Lab, in association with GS1 US, finished a proof-of-concept that describes the effectiveness of blockchain and RIFD (Radio Frequency Identification) technologies to develop serialized data sharing in the retail industry.
Participating companies involved, Herman Kay, Nike, PVH Corp., Macy’s, Kohl’s, Avery Dennison, Mojix, SML, IBM, and Collaboration, LLC. The comprehensive judgments are accessible in a new white paper titled “Chain Integration Project (CHIP) Proof of Concept.”
The researchers studied the exchange of serialized product data within paired brands and retailers. The findings verified that a blockchain network was able to share item-level data encoded in RFID tags among the participants.
According to the white paper, the automation of serialized product information exchange utilizing blockchain can eradicate the need for human audits and counting, enhancing the efficiency and productivity of the retail supply chain.
As mentioned in Project Zipper, a 2018 Auburn University RFID Lab study and a forerunner to CHIP, the presence of serialized data in the supply chain has proliferated as more brands embrace RFID tags and infrastructure to gather data on individual items ﬂowing through their abilities.
Nevertheless, industry stakeholders informed poor item-level visibility due to a lack of data sharing. CHIP offers proof that blockchain technology, in alliance with a GS1 data-sharing standard named EPCIS (Electronic Product Code Information Services), enables partners to transfer data more quickly and efficiently while sustaining ownership of their data.
“CHIP is truly groundbreaking because it provides a vision into the future of information exchange in retail,” stated Justin Patton, director, the Auburn University RFID Lab. “By exploring the intersection of RFID and blockchain technology, we’ve taken an important step in our mission to help rid the retail supply chain of costly errors and inefficiencies caused by outdated processes and legacy systems.”
“More widespread data sharing can unite the retail supply chain; however, blockchain technology is only as useful as the data that is shared by industry stakeholders,” stated Angela Fernandez, vice president of community engagement, GS1 US. “Now that CHIP has confirmed the viability of using EPCIS to communicate serialized item data across the supply chain, adhering to a GS1 Standards-based framework is more important than ever.”
Succeeding this year, the Auburn University RFID Lab will originate a follow-up pilot study, concentrating on the financial implications of data exchange automation. Participants and researchers will more explicitly examine how a blockchain-based, serialized data solution can help reduce claims and chargebacks that happen between retailers and brands.