SAP's GreenToken solution boosts Unilever's IT procurement

 

Unilever revealed that it has entered into an agreement with SAP SE, where it will be using the blockchain solution to track, verify and report in real-time the origins and journey that palm oil takes to complete via its supply chain.

SAP SE is a Germany-based company that provides enterprise application software.

Dave Ingram, chief procurement officer Unilever, said, "Unilever is committed to achieving a deforestation-free supply chain by 2023, and blockchain technology has the potential to help companies, like ours, track their supply chains to ensure the commodities we source respect people and the planet. We are encouraged by the promising results of our pilot with GreenToken by SAP, the latest building block in our tech-enabled approach to ensure a more traceable and transparent supply chain."

 

Nitin Jain, co-founder and general manager of the GreenToken by SAP solution, SAP, said, "With GreenToken, we want to bring the same traceability and supply chain transparency to bulk raw materials that you get from scanning a bar or QR code on any consumer product. Our solution allows companies to tell what percentage of palm oil products they purchased from a sustainable origin and track it to the end consumer product."

SAP SE claims that the solution ‘GreenToken’ is importantly a ‘Chain of Custody’ that offers companies a new level of transparency in their complex raw material supply chain.

Unilever claimed that it had applied GreenToken to source around 188000 tonnes of the oil palm fruit. During that exercise, suppliers were able to create tokens capturing the critical information on the palm oil origin and its entire supply chain as well.