Supply Chain executives are the ones who have to undertake the implementation of Blockchain ledger-technology in their hands and find the appropriate steps to convince their businesses of the benefit of this technology.
Supply chains are where we find the perfect model to understand when and where Blockchain is needed, because supply chains are complex; it’s there where many parties need to share information, and various applications, and is where increasing demand takes place; and for sure, it’s where Financial and reputation issues could go wrong.
There’s no need for third-party mediators to program Blockchain tool in your SC, as long as you count on a highly-trained team of your own; transactions, trading, and relationships - pillars of the Supply Chain – are all met here; this application can be programmed to meet the transparency, trust, and transactions standards your organisation needs.
These are some of the Blockchain-based technology benefits:
• Save the container shipping industry billions of dollars.
• Removes business friction between counterparts.
• Tracks the movement and importation of goods from overseas suppliers.
• Can become an integral part of the global trade as a whole.
• Figuring out who has what and when there are risks for goods that are in motion.
• Bring transparency and risk mitigation to systems.
• Has the ability to track and trace a product or input all the way back to the raw material.
• Customers can feel certain that products are marketed as advertised.
• Blockchain proves relative identity and integrity.
• The technology can help force out counterfeiters, fraudsters, and other bad actors from the Global Supply Chain.
Blockchain can be worthy of consideration when it comes to business benefit. IoT, Cloud-based Machine Learning and Big Data Analytics can all together contribute to a better digital connectivity, where data is visualised and coordinated in procedures that are extremely real-time managed.
Dave Food
Subscribe to our emails & get exclusive free content.
