How Blockchain can enhance Supply Chain Management:


Christyolivia

Uploaded on Jun 13, 2019

Category Technology

What is the supply chain? Network of all involved processes in creation of product Raw materials to end product Stages vary depending on product

Category Technology

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How Blockchain can enhance Supply Chain Management:

How Blockchain can enhance Supply Chain Management: What is the supply chain? Network of all involved processes in creation of product Raw materials to end product Stages vary depending on product Supply chain management ● Planning and execution of supply chain processes ● Helps optimize all activities ● Enhances cost-effectivity and efficiency Processes in the supply chain Material flow ● Raw materials to end product ● Efficient and damage- free flow Processes in the supply chain Information flow. ● Large amounts of data ● Involved middlemen details, payment details, etc. ● Proper management of data Processes in the supply chain ● Finance flow ● Payment should be seamless ● Costs for raw materials, production, logistics, etc. Blockchain and Supply Chain Management Blockchain is ● Transparent ● Distributed ● Immune to manipulation Role of Blockchain in Supply Chain ● Writing up contracts/agreements ● Tracking ● Payment Benefits of implementing Blockchain Reduction in costs ● Automatic processes ● Decreased human intervention Increased accountability ● Immutable blockchain records all transactions ● Manipulation of data is impossible Benefits of implementing Blockchain Easy tracking of product ● Products and progress can be tracked digitally ● Helps to trace back to the origin of an issue Improvement in sales ● Seamless flow of activities ● Better quality Blockchain for Supply Chain Development ● Hire expert developers for futuristic blockchain solutions ● Blockchain App Factory is an expert in blockchain-based services ● Visit their website for more information