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How Blockchain Technology Use In Supply Chain Management by Ajmishra: 7:40am On May 01, 2023 |
Tracking: Blockchain can help firms to guarantee that their products are ethically sourced and also help in tracking any issues that may occur during transportation. Automation: With Smart contracts, firms can easily automate a few processes, like payment and delivery, that enhance efficiency and productivity. Improved security: Organisations can prevent fraud and can be assured that their sensitive data & information are kept confidential. Transparency: Due to centralized data organizations can see the data throughout the supply chain process. Reduced costs: By reducing mediators and simplifying processes, firms can help to reduce expenses and cost in the supply chain. Increased efficiency: Organizations can easily identify blockages and other issues, which can be solved quickly to decrease disruptions. Blockchain technology is a game-changer in revolutionizing supply chain management by building transparency, enhancing efficiency , providing automation and communication, and overall reducing cost. Blockchain is truly changing the whole supply chain management significantly. |
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