Blockchain In Supply Chain Management



If we all have a chance to know answers for all the above questions, we surely will utilize the chance and wonder finding the origins of all products. isn't it??. Yes. Here is a chance. Blockchain Technology provides a way for it.

 Supply chain is the backbone of every Consumer good delivering business. The supply chain is the main process that makes a business stands high as a brand in the market. Maintaining a proper supply chain for a business is a tedious task today.

 Supply Chain Management ( SCM )

 Supply Chain Management is a complete process of changing the raw materials into goods and delivering them to the end-user. It is nothing but a process of managing the flow of goods/ services starting from the supply of raw materials to the manufacturer until the delivery of the final good to the consumer. It involves material flow, information flow as well as financial capital flow.

 Blockchain in SCM ( Supply Chain Management )

 Blockchain with IoT's in the supply chain can make SCM process as easier. Just using the micro IoT's chip to monitor the movement of products and use of blockchain to store the tracking records can provide proper supply chain management. This could also increase product usage and demand.

 Blockchain has eradicated the complexity in many different supply chains and most notable SCMs that are benefited by Blockchain are as follows :

 1. Coffee Supply chain.
2. Automotive Supply chain.
3. Seafood Supply chain.
4. Drugs Supply chain.
5. Beverages Supply chain,etc.,

 Benefits of using SCM in Blockcain :

  1. Easy to track information about goods/services.
2. Provides Transparency in the supply chain.
3. Increases Data Visibility.
4. Reduces the cost of SCM.
5. Increases sales and thereby revenue is increased.

 Get a detailed information about use of blockchain in supplychain management , refer the blog : How Blockchain Can Revamp The Supply Chain Management (SCM) System

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