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Supply chain management could benefit from blockchain technology in several ways. Here are a few instances where blockchain can be helpful: Transparency and Traceability:   Blockchain technology can provide an immutable ledger of transactions, allowing for transparency and traceability of goods as they move through the supply chain. Each transaction is recorded in a block; once added to the chain, a block cannot be changed. This means that stakeholders in the supply chain can see a product's entire history, from its inception to its final destination. Efficiency:   Blockchain can also help improve supply chain efficiency by reducing the time and resources required to track and verify transactions. Smart contracts can automate specific processes, such as payments and inventory management, lowering costs and improving accuracy. Security:   Using encryption and decentralized storage to protect sensitive data, blockchain can help improve supply chain security. This can assist...

Blockchain has the reputation of being a miracle cure. Our supply chain specialists assess its actual potential. Another new technology to think about another day. ‍Blockchain, the system designed to facilitate bitcoin transactions, is to blame this time. In the opinion of its proponents, notably in the financial industry, blockchain technology has the power to drastically increase the productivity and profitability of the majority of firms, if not all of them—or perhaps to completely transform the way we do business. These early adopters assert that companies that disregard blockchain technology do so at their peril. However, how real are these powerful words? Does the supply chain industry actually use blockchain technology? Can it boost your profitability and resolve your supply-chain issues? Supply-chain executives have asked us a number of very practical questions. Our objectives are to help you comprehend the fundamentals of blockchain technology and to save you the time-consumin...