Today’s supply chains are inherently complex. Cost, visibility, risk, customer needs, globalization, lack of interoperability and inconsistent or unavailable data are some of the biggest challenges supply chain professionals are faced with today. Blockchain technology has the potential to address and resolve these challenges and add new value to your business.
Blockchain technology offers a secure digital ledger in which the multiple participants on a given supply chain can update data in real time. It exists in multiple copies spread over multiple computers—secure because each new block of transactions is linked back to previous blocks—making tampering practically impossible.
Thoughtful incorporation of blockchain technology into your supply chain will have a tremendous impact on transparency, data Interchange and consolidation, identity & trust, payments, contracting, compliance, flexibility & responsiveness, and stakeholder management—ultimately resulting in an efficient, cost-saving, risk-reducing demand chain.
Blockchain offers you opportunity to understand the digital supply chain and the entire customer process—something that you have never had before.