India, March 31 -- Luxury carmaker BMW AG is using blockchain technology to optimize processes in its highly complex multi-stage international supply chains. It is using this technology in purchasing to ensure the traceability of components and raw materials. It will roll out the platform to about ten suppliers later in the year.

The international supply chains generally involve numerous players at different delivery stages and often undergo rapid changes. It needs a considerable effort to clearly track a component's origin or supply route in the manual process, while ensuring transparency between purchasing experts and its suppliers.

The BMW Group initiated the blockchain-powered PartChain project to ensure seamless traceability of com...