BASF experiments with IoT and blockchain to enable vendor-managed inventory and pay-per-use pricing models in the chemical industry

May 17, 2018 | Case Study

BASF is one of the largest chemical producers in the world. The company’s products include a wide variety of commodity and specialty chemicals that are sold to industries as diverse as energy, transportation, agriculture, and health and nutrition. With production facilities and customers all over the world, BASF, faces significant challenges in managing its supply chain efficiently, which in turn can impact its business. For example, shipped pallets could get lost or stolen while in transit. Such incidents not only lead to financial losses for the supplier, but also affect the customers’ business by slowing down their production activities. All of these incidents affect the relationship and level of trust between the buyer and the supplier.