Supply Chain Management Solution on Blockchain to Modernize Construction Business

A US-based construction company addressed Infopulse with the need to modernize their existing supply chain management system (SCM), connecting multiple parties involved in the construction process.

The system had to:

• Facilitate multiple financial operations and enable secure and robust lien waiver management.
• Support a complex supply chain management hierarchy.
• Provide and limit access to sensitive data to specific participants involved in the construction.
• Simplify distribution of budgets between different parties (budget owners, general contractors, sub-contractors and suppliers).

The client also wanted to cut costs needed for intermediaries overseeing agreements and payment processing. It was also essential to build an effective scoring system allowing to select a subcontractor or supplier based on their rate and feedback from other general contractors.

For budget owners and general contractors (GCs), the solution allows:

• Simplifying financial operations conducted in an integrated blockchain-based SCM system.
• Choosing and hiring sub-contractors/suppliers based on their score and evaluation marks from previous employers.
• Monitoring their work progress, contractual agreements, lien waivers, budget, invoicing, and payments.
• Handling contracts and transactions (including advance payments) within the project hierarchy.
• Facilitating management of lien waiver, issuance of payments, and work package completion.
• Supervising the construction project and managing the accounts of the contractors and suppliers of all levels in the hierarchy.
• Improving sensitive data protection to other parties.
• Facilitating paperwork and automating invoicing, transactions, documents signing, etc.
• Speeding up supply chain management operations and construction processes.