Blockchain use cases

Supply Chain

Supply Chain

The planning and execution of every associated process leading to the release of a final product is referred to as supply chain management. It often consists of a network of individuals or organizations that starts with raw material suppliers, moves directly to product makers, and then descends to distributors.

A supply chain that is well-optimized guarantees optimum production while lowering fraud and overhead expenses. As you might expect, putting this into practice in the actual world is a very demanding task. AI and machine learning have been used to automate some processes, but blockchain has the potential to revolutionize this field. So, this is one of the real-world issues that blockchain has resolved.

UseCases

Traceability

One of the world’s most fragmented and ineffective industries is logistics. Due to inadequate supply chains and logistics, the majority of emerging markets lose 3–5% of their GDP annually. Effective logistics are a requirement for the long-term development of any business, nation, or region, as well as its citizens.

The lack of openness and the inability to go back and double-check the entire supply chain makes it simple for malevolent actors to alter supply chain management. In the end, businesses and consumers are hurt by counterfeit items. This is a serious issue.

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Problem

One of the world’s most fragmented and ineffective industries is logistics. Due to inadequate supply chains and logistics, the majority of emerging markets lose 3–5% of their GDP annually. Effective logistics are a requirement for the long-term development of any business, nation, or region, as well as its citizens.

The lack of openness and the inability to go back and double-check the entire supply chain makes it simple for malevolent actors to alter supply chain management. In the end, businesses and consumers are hurt by counterfeit items. This is a serious issue.

Solution

Blockchain can help to build open, neutral, and robust systems that allow complete and easy integration with its clients’ ERP systems, providing visibility, reliability, availability of trucks, security, trust, higher cash flows, and stronger sales to its clients.

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