How can a blockchain be implemented in a supply chain?

The blockchain technology is being actively adopted by finance, retail, insurance, and other industries as it helps to achieve well-established workflows through simplifying record/identity management, transaction processing, goods provenance and traceability. By excluding an intermediary, implementing blockchain in supply chain also allows for minimizing or eliminating the counterparty risks, as well as reducing overhead costs, transaction time, and the related fees.
For example, how a DLT-driven solution can boost your operational efficiency:
  • bring optimal and feasible supply chain planning by establishing proper synergy with stakeholders
  • improve your planning efforts and avoid huge impacts caused by small deviations
  • the process only trusted and valuable data that really matters for your supply chain
  • implement a system that handles all critical issues, automates manual efforts, and bolsters streamlined processes across your supply chain
  • foster prompt notifications of unplanned events and eliminate reactive management of potential fallout
  • blockchain brings about accurate data provenance which makes the track-and-trace process less complicated with a minimal number of rejections

Comments

Post a Comment

Popular posts from this blog

The future of supply chain and logistics

The future of supply chain and logistics, in my view, revolves around several key trends, including the last mile, drones, and self-driving trucks. These trends at the intersection of technology and logistics evolve out of a long history of innovation. In fact, i nnovation in transportation  has helped to shape our world in powerful ways. In 1869, Leland Stanford drove the Golden Spike into the ground in Utah, creating the first coast-to-coast railroad. In 1956, Malcolm McLain refitted an oil tanker to carry 58 shipping containers from Newark to Houston. Both of these breakthroughs helped the US to build a world-class infrastructure and lead the global economy. Today, we are in the early stages of a powerful technology disruption that will reshape our world in even more significant ways. How will drones shift freight patterns? Will self-driving trucks take over the roads? Can 3-D printers enable companies to compress their supply chains? Will “the Amazon effect” spark a new ...
Read more

Musharraf pressured me to read statement on nuclear proliferation, claims Dr Qadeer

Image
LAHORE:  In a letter written to the Lahore High Court chief justice, the pioneer of Pakistan’s nuclear programme Dr Abdul Qadeer Khan claimed that former president General (retd) Pervez Musharraf, under the influence of the United States, had pressured on him to read a statement written by him [Musharraf] on the television. According to Dr Qadeer, Musharraf had promised him that the nuclear scientist would be restored after a few days of the speech but Musharraf did not abide by his promise. Former prime minister Chaudhry Shujaat Hussain and lawyer SM Zafar were also witnesses in this matter, he added. Following no response from the provincial chief justice Sardar Shamim Ahmed Khan, Dr Qadeer filed a writ petition in the Lahore High Court requesting to allow him to move freely and appear in-person in a case already pending at the court, restraining the security officials from creating any hindrance in doing so. Dr AQ Khan makes plea for free movement A lawyers’ delegatio...
Read more

Sustainable Earth – science, policy, society

Image
Earth Day’ was first celebrated in 1970 and gave voice to many concerns about the global environment. Scientists played a major role in drawing attention to our impact on the planet and millions marched in response. Across the world nations, cities, businesses and communities began to address environmental issues. The 1970s and 80s saw the rise of environmental science, environmental protection agencies, environmental policy and environmental assessment with the worst pollution of air, water and land being addressed. But deeper issues about our consumption of energy, materials, food and forests began to surface and serious questions were asked about global limits and the pursuit of single-minded economic development. Should we stop economic growth? What about the 1 billion people in extreme poverty? The UN’s World Commission on Environment and Development in 1987 resolved this issue in theory by creating the idea of ‘sustainable development’. This suggested that we could grow ec...
Read more