Studying how blockchain integration
will revitalize the way how we carry out extensive supply chain transactions.
Understanding Blockchain Technology
Now and
then, any business, no matter what industry it belongs to, grows. This growth
is usually promoted by changing and forever-growing business environments and
industry innovations. A significant part of this growth today is technology.
And the biggest revolution that technology is bringing in recent times is
blockchain.
It has
become obligatory for businesses to be open to radical changes in order to have
a sustainable strategy of doing business and stay relevant indefinitely.
Blockchain is one such revolution that will bridge businesses and the future.
Let’s see how Supply chain management systems will benefit from this novel
technology.
Today’s
supply chain has grown more complex and specific to the goods which are being
distributed. It could cover multiple locations and can have hundreds of stages.
From suppliers to the consumer, every stage in itself could involve
transactions, invoices, and certifications.
Supply
chains today are no longer a linear process of transactions of goods. They have
grown into becoming dynamic ecosystems with layers instead of steps of
transactions. It has transcended to become an act of collaboration instead of
just baton-passing transactions. From a supplier to an end consumer, the supply
chain facilitates the journey of a product without anything being lost in the transaction.
Many blockchain supply chain
development companies have been often quoted for their experiments with the
integration of blockchain in the supply chain process.
AtCodezeros, we worked on one such project where we were asked for our blockchain
supply chain management solutions. We developed Ecochain, a blockchain-based
fiber exchange platform for international markets. In this app, we created a
tracking of fiber provenance through all levels of the supply chain,
aggregating invaluable data in the process.
Ready to innovate and build your
great Blockchain development for Supply Chain!
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