Managing Supply Chains with Blockchain
Whether a large corporation or small boutique, the world’s supply chains have become exponentially complicated.
From retail to logistics, better management of the data, and improved access to information from these processes would lead to more efficiency, and an opportunity to save vast amounts of money. More than that, once the situation is clearer there is a better chance of ‘cleaning up’ the value chain from the corporate responsibility point of view, whether environmental impact or human rights abuses.
This first relies on better coordination with all parties in the supply chain, and indeed a standardisation of data. But this is a luxury for small companies without the budget. As for large conglomerates, the larger the supply chain the more opaque the system becomes.
Blockchain may well be the solution to the traceability issues within supply chains. With each activity recorded in an immutable manner, product journeys can be tracked. Smart contracts can allow for automated transactions. More trust in the verified data means a better analysis of process and more room for improvement.
Blockchain Live takes a look at how blockchain is shaking up supply chain management, who is already using blockchain to improve their SCM, and challenges lie ahead for implementation.
Download our e-book here with exclusive interviews with Blockchain Live Insight Partners UCL Centre for Blockchain Technologies, and the Blockchain Research Institute.
You can find out all you need to know about supply chain management and blockchain from our speakers from Nestle, Sainsbury’s and Maersk on the Business Summit at Blockchain Live, London 25th of September. You can register for your free pass here.