Why do you Need Supply chain Blockchain Development

Why do you Need Supply chain Blockchain Development

Supply chain represents the entire process of taking a product or from the provider to the customer. It has a complex structure and is not as simple as people think it is. With its enormity, it is not really a surprise that the supply chain runs short of transparency, tractability and security. Supply chain Blockchain development shall be the right solution to eliminate all the issues existing in the supply chain sector.

Supply chain Blockchain development

Many Blockchain development companies out there extend end to end service for Supply chain Blockchain development

Necessity of supply chain management

Each phase of the supply chain is as critical as the other and any little interruption will corrupt the whole procedure. In such a case, all the labor put in will be of no use. Hence, an effectual execution of supply chain is mandatory.

Problems in Supply Chain

Lucidity

Supply chain runs short of transparency as it involves a series of processes. So, there is enough space for duplicity in the chain.

Falsification

Replacing the products in a supply chain with fake ones is a cakewalk particularly with the involvement of numerous stakeholders. Nobody will know about the fraudulence and who carries it out.

Tracking

There are more chances for the product to get lost before the corresponding package reaches the customer in the absence of an authentic tracking system.

Record update

It is hard to update the records in a supply chain as the record keeping process depends on the extent of manual efforts put in for the same.

Blockchain Solutions for Supply Chain

Record Keeping

Providing fullest security to the supply chain data is possible with the complex structure of Blockchain.

Data Tracking

With the authentic sensors and RFID labels powered by Blockchain tracking the products in the supply chain down their origin is not really a big deal.

Trust

Blockchain implementation in the supply chain helps the vendors to gain the trust of the customers as the blockchain keeps the data consistent and valid.

Cost effectiveness

In supply chain, blockchain takes away the interference of middlemen. This shall curtail the extra expenses to a much greater extent.

Protection

The complex base of the Blockchain extends complete protection with encryption to the supply chain data involved.