Using blockchain to drive supply chain transparency
New technologies are presenting promising opportunities for improvement across the supply chain. Using blockchain in the supply chain has the potential to improve supply chain transparency and traceability as well as reduce administrative costs.
The supply chain is an integral part of how the business runs. With time it has become complicated and cumbersome. You would also agree with the fact that the entire process of the supply chain has too many intermediaries and most of the system still relies on paper. Apart from this, tracing the products and tracking them is also a tedious task. Friction is another problem in the supply chain. There are too many go-betweens. Everybody in the entire chain ranging from suppliers, manufacturers, providers, clients, etc., have to deal with a third-party rather than dealing with each other. Thus, a simple process of demand and supply gets divided into some steps and too many intermediaries.
Blockchain might come to a solution provider to all these problems. We will be here onwards analyzing the use of blockchain in supply chain management. Go ahead, and request for a consultation. Cryptosoft India is always ready to serve you.