Automotive logistics company Groupe CAT has joined the Vinturas blockchain supply chain consortium. Vinturas is a digital platform for tracking logistics for the delivery of used and newly manufactured cars. With the addition of the new member, the consortium will now be involved in over 25% of all supply chain vehicle movements in Europe.
The Vinturas consortium consists of Groupe CAT, Axess Logistics, Koopman Logistics Group, NVD and AutoLink.
Finished car deliveries are one of the pain points in the automotive supply chain.
Carmakers also have to heed to specific requests from carbuyers, which complicates the process. The legacy process employs paper-based systems at various stages after the car leaves the factory, making it difficult to monitor the inventory.
A recent study by Global Market Insights found that Automotive Logistics Market is set to grow from its current market value of more than $115 billion to over $170 billion by 2025. In Europe, the growth in the sector will be driven by the demand for electric vehicles.
“With Groupe CAT now joining the consortium, Vinturas has become the leading digital platform in our industry. The digitalization of the Finished Vehicle Supply Chain will give our customers, from OEM to dealer, finally the insights and value creation the industry has been waiting for,” said Vinturas CEO Jon Kuiper.
Vinturas aims to provide an estimated time of arrival by digitalizing the journey from factory to dealer and also for used car deliveries. Additionally, the group plans to allow manufacturers and fleet owners to manage logistics in near real-time. Greater transparency should improve planning and optimize inventories.
The blockchain platform is currently being tested within the group and their customers and is scheduled to go live in early 2020. IBM is the technology partner, and the platform is based on Hyperledger Fabric.
There are several other blockchain projects in the automotive industry. BMW and Mercedes are working on supply chain blockchains, but with a focus on their own suppliers. Volkswagen, Ford, IBM and a few others are participating in a Cobalt provenance pilot where the commodity is used in electric vehicles.
Most auto blockchains are focused on creating a connected ecosystem and enhancing mobility. MOBI is probably the biggest name in this sector and has several projects in the pipeline. The consortium recently launched a Proof of Concept (PoC) for Vehicle Identity in collaboration with BMW, Ford, Renault, GM, Honda and several others.