Blockchain and supply chain management
by SMEBOOK (admin) · March 1, 2020
The supply chain has always been complicated and cumbersome for all businesses but it is very essential function. From procurement to delivery, there are many steps and activities in the entire cycle that make it difficult to manage. But using blockchain all such complicated challenges such as procurement, record keeping, and tracking of products can be addressed with ease. It allows the organizations, in the supply chain network, to gain real-time access to digital ledger of all transactions and product movements, which is constantly refreshed. It also allows the smart contracts and digital payments to end costly procure-to-pay gaps, putting a stop to the middle-man and associated cost, and better control over data with great insights to make informed decisions.