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Supply Chain Development

Supply chain is the process involved from the inception of producing goods to delivering it to the end customer. Blockchain can be integrated in the Supply chain process to make it easier and transparent. Each Blockchain contains a set of transactions entered in the distributed public ledger. Supply chain is further used to make the shared ledger details more transparent and secured between businesses.

By using Blockchain in Supply chain, you can take a more novel approach or create a secured peer-to-peer network. Without any third party intervention the Blockchain then is less prone to manipulation.

Role of Blockchain in Supply Chain Process

Improve Inventory Management

Any supply chain management will contain inventory data which will take up in size. Blockchain will improve the inventory data by ordering them into sets in the private blockchain.

Eliminate Manual Errors and Frauds

The risk of manual errors and missing funds is high among supply chain as there will be several points from the inception to delivery. Blockchains will obliterate manual errors and frauds as every transaction is entered in ledger.

Reduced Courier Costs

Transportation is imperative in any business venture. Blockchain reduces the transportation and courier costs of the ongoing supply chain in the enterprise.

Enhance Customer-Retailer Relationship

Customer-Retailer relationship is the crown of any venture. By using blockchain in supply chains, the extensive use of blockchain technology will assure you to enhance the customer relationship to your enterprise.

Attributes of Supply Chain

Cryptographic ledgers

Supply Chains contain ledgers of every transactions inside the network. These encrypted transactions cannot be viewed by anyone else outside the network.

No third party involvement

Supply chain is a peer-to-peer network that will not allow any third party viewers to view the transaction sets in the ledgers.

Shared Datasets

Share the transaction via datasets in the transaction ledgers so that the business transactions will work over seamlessly.

Secured, transparent and trustable

Supply Chain transactions are secured, transparent and trustable so the business transactions can happen within the secure environment.

Immutable transactions

Transactions happening in the supply chain are certainly immutable due to security concerns in supply chain ledgers.

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