Wipro sees enormous potential to leverage emerging technologies like blockchain and artificial intelligence/machine learning (AI/ML) to transform its global supply chain operations and drive greater efficiencies. As one of the largest global sourcing companies in the world with a vast network of suppliers, manufacturing partners, shippers and clients, Wipro’s supply chain is tremendously complex with visibility and trust issues across the extended ecosystem.

Blockchain technology is well-suited to address these challenges by creating a distributed, shared immutable record of all supply chain transactions and events on an encrypted digital ledger. Wipro is exploring the development of a private permissioned blockchain network that connects all key entities in its supply chain on a single platform. This would enable instant, direct sharing of information between suppliers, manufacturers, shippers, clients and Wipro in a secure and transparent manner without any intermediaries.

All purchase orders, forecasts, inventory levels, shipment details, payments etc. can be recorded on the blockchain in real-time. This level of visibility and traceability allows Wipro and partners to better coordinate activities, proactively manage risks and disruptions, balance inventories more efficiently and automate manual processes. For example, purchase orders raised by Wipro get automatically transmitted over the blockchain network to suppliers who initiate manufacturing and log finished goods into blockchain-tracked warehouses.

Smart contracts programmed with business logic can then drive automated release of goods to shippers once invoices are paid. Clients have direct access to view shipment details, intervene if needed and release payments which again get recorded on the blockchain. Such a networked system promotes collaborative planning, faster fulfillment of demand swings and builds transparency critical for reducing disputes. The audit trail on the immutable blockchain also strengthens compliance with regulations like counterfeit elimination.

Over time, as transaction data accumulates on the blockchain, Wipro intends to apply advanced AI/ML techniques to gain valuable insights hidden within. Predictive forecasting models can analyze seasonality patterns and order histories to more accurately project client demands. Computer vision coupled with IoT sensor data from factory floors and warehouses would enable remote monitoring of manufacturing and inventory levels in real-time. Anomaly detection algorithms can flag issues at the earliest for quick resolution.

Suppliers identified as underperforming on quality or delivery metrics through predictive analytics may undergo capability building initiatives for continual improvement. Machine learning recommendations systems can also guide tactical sourcing and logistics decisions. For instance, optimal shipping routes and carrier selections based on predictive transit times, risks of delays etc. All these insights when embedded into supply chain processes and systems through automation stands to deliver significant efficiency and savings to Wipro.

Wipro aims to develop such an advanced digital supply network as a competitive differentiator and also shared platform to support clients looking to digitally transform their own supplier ecosystems. Opportunities exist to expand this shared network to encompass other stakeholders as well like freight forwarders, customs authorities etc. Over the next 3-5 years, Wipro will focus on gradually onboarding all strategic suppliers and key functions onto the blockchain network through change management efforts and incentivization. Parallel tech development will refine the system based on early pilots to maximize benefits across domains like sourcing, inventory, manufacturing, logistics and vendor performance management.

Challenges around encouraging voluntary participation across the fragmented global supply base, interoperability between disparate legacy systems and data privacy & governance would need careful attention. Steady progress in core areas like digitization of paper-based workflows, standardization of EDI protocols etc. will support blockchain enablement. Wipro is committed to pursue this ambitious digital supply chain initiative responsibly through an open innovation model involving partners, startups, academicians and clients. If successful, it has the potential to redefine efficiency, trust and collaboration within supply networks worldwide.