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  Supply chain management is the handling of the entire production flow of a good or service starting from the raw components to delivering the final product to the consumer. Why is supply chain management important? The term supply chain management (SCM) covers all the activities associated with managing an organization's procurement with the goal of: •             Reducing costs •             Improving efficiency •             Satisfying demand SCM performance has a direct effect on the organization's overall performance. From a cost control perspective, it's estimated that companies with extended global supply chains have between 80% and 90% of their costs tied up in their supply chains. Also, the increased complexity of modern supply chains caused by global sourcing, omnichannel d...

New technologies are presenting promising opportunities for improvement across the supply chain. Using blockchain in the supply chain has the potential to improve supply chain transparency and traceability as well as reduce administrative costs. The supply chain sector has been identified as one of the sectors where blockchain technology holds great potential. Many supply chain use cases are likely to satisfy the minimal requirements for blockchain use cases: Multiple parties need to reach a consensus on shared data Transactions need to be checked for validity on a technical and economic level The use case is delineated and well understood One particularly promising use case is supply chain tracking. A comprehensive tracking system could make it possible to trace food “from farm to fork,” measure the ecological footprint of products in real-time and implement innovative profit-sharing models within complex supply chains. The Blockchain Research Lab evaluates the potential of...