Boardwalktech Software (BWLK.V) announced that its expanding its digital ledger platform contract with an existing global food products manufacturing company.
Today’s contract expansion is another step in a two-year plan between the company and this client that will allow them to upgrade their supply chain and promotion planning system’s capabilities.
“Managing supply chain data from multiple points is a challenging task within any business in normal times, let alone in the current challenging market conditions resulting from the COVID-19 pandemic,” said Andrew T. Duncan, president and CEO of Boardwalktech Software.
Boardwalktech has developed a digital ledger technology platform presently being used by 27 of the Fortune 500 running over 100 mission-critical applications world-wide. The platform allows multiple parties to work together, to verify, protect and control transactions using a trusted, shared and secured private permissioned digital ledger cloud-based service. The platform allows for rapid application development on any device or user interface with full integration with enterprise systems of record.
The company uses something they call the Boardwalk Story, which enables clients to take their product data, process it and place it on the ledger. When this happens, a unique boardwalk story ID is generated for an individual product. This ID can then be shared internally within the company or externally to create and develop transparency between your products and customers, and any other relevant parties.
Boardwalk Story adds the missing element from the world of business by finally providing key information that allow businesses to tell unique stories through their business practices. In this case, at the product level, saving marketing dollars and allowing the story of the product to speak for itself.
This particular client is a member of the Fortune 200. They’re a U.S. based multinational manufacturer and marketed or branded consumer goods sold commonly in retail stores worldwide. The client will now be expanding and integrating addition point-of-sale data feeds into Boardwalktech’s digital ledger, which when combined with the purchase order and other supply chain information, will expand the client’s ability to combine the operations of their existing systems and provide more visibility down the supply chain.
The solution created on the Boardwalktech’s platform involves real-time predictive analytics, influencing price change management on products, increasing sales and margins across the business.
“Improving supply chains and helping companies world-wide meet demand – getting the right products to the right place at the right time is a key benefit for all clients using the Boardwalk Digital Ledger Platform and is of critical importance now more than ever. Capturing dynamic information flows from the global supply chain and understanding the effects of change through predictive analytics provides a higher level of intelligent digital data for making mission critical decisions driving improved operating results and ultimately a higher level of product satisfaction for the consumer,” Duncan said.
Boardwalktech recognizes that the promotional pricing of thousands of products and optimal decision making in real-time represents a real problem for companies. Accurate pricing requires flexible, multi-point integration capabilities across various information sources, including but not exclusive to multiple point of sale feeds from some of the largest retailers across the world. Their digital ledger tech has a method of managing vast amounts of both structured and unstructured data to deliver a collaborative, fully integrated promotion price and supply chain solution.
—Joseph Morton