How the Blockchain Overcomes the Risks And Challenges in Supply chain

Posted by celine anderson on December 19th, 2019

With enormous outstanding technology, innovations, and inventions our world is getting change and molding in a tangible way. As the Usage of internet Continues to widespread the world, the count of global Online shoppers will also continue to rise and also it is expected to increase about 2.14 million online shoppers by 2021.

we also looking forward to buying things online. And you guys do you have any thought of where the product is manufacturing and how it is coming to your hand.

Nowadays Customers are more unsure about what they are buying either it is a quality product or not. Just they are going behind with unperceptive trust alone.

In this world whatever you want to buy, won’t come from any sky directly. Somewhat this statement will be funny but am saying the reality. Ok, Let me say clearly.

Take any product like Food, Iron Rod, Jewells or even a lipstick. Everything will be manufactured step by step, isn't it?

The Process of getting the final product by doing a step by step process is called as Supply chain. Every product has a separate supply chain, but the problem here is the challenge of ensuring the originality of its products. Hence minding customers trust here implementing Blockchain in Supply chain Management.

Blockchain had become the latest hype in Fintech, with almost day to day announcements of new startups and corporate projects.

Supply Chain is Like Nature. It is All Around US-"Dave Waters"

What is Supply chain Management?

Supply chain Management defines the planning and execution of different Processes. The Process involves Planning, Raw materials Gathering, Production, inventory, Transportation, and Return of goods.

Normally Tradition Supply chain is facing a problem of delivering a highly efficient and trustable ecosystem to end-users.

Supply Chain In Various Industries

1. Food Supply Chain

2. Automotive Goods Supply Chain

3. Ecommerce Supply Chain

4. Pharma and Drugs Supply Chain

Risks and Challenges in Supply Chain

The Common Problem that every Supplychain facing is

1. Transparency

2. Traceability

3. Inventory

4. Maintenance Cost

5. Natural Disasters and unexpected shortages

6. Fraud, Theft, Manual Errors

7. Security

8. Database Maintenance

Blockchain Solutions for Supply Chain

Blockchain is a technology that can be applied to many challenges of the supply chain industry which provides a secure way of maintaining complicated records and tracking of products.

Blockchain in supply chain and logistics can provide better processing of SCM and helps in reaching the right customers with the right products/services at the right time. There are many supply chain and logistics industry that has been implemented blockchain technology for their betterment.

Know the Benefits of Blockchain Supply chain Development