Modern supply chains are being revitalized in nearly every respect through the application of big data, the Internet of Things, and augmented reality that are driving new levels of transparency, agility, and efficiency. The purpose of the Accord Supply Chain Working Group is to produce the standards and open source tools required to bolster supply chain transformation with smart legal contracts. Key to this end is to integrate contracts and the contracting process directly into the sourcing, production, and distribution value chain.
Supply chain-specific contracting problems to be addressed by the Working Group include:
erroneous pricing and other terms;
lack of visibility into compliance with purchase order fulfillment and delivery terms;
Interaction of computable contracts with a variety of supply chain-related blockchains (e.g., trade finance, provenance, supply)
warranty compliance and management;
regulatory compliance with disparate regimes;
incorporating new data sources for cost-based pricing;
invoice, purchase order, and payables administration;
just-in-time contracting and supply chain financing;
integration of master supply agreements with software systems that govern purchase orders, invoices, and related documents;
visualizations that include contract and clause-level analytics among other supply chain management dashboards;
adjustment of contract terms due to changes in supply or downstream conditions;
sharing contract data among different supply chain-related participants.