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How Blockchain supports Supply Chain Management? The new blockchain innovation is good to go to amaze distinctive businesses. Its potential is worth utilizing. This article talks about what is supply chain management and how blockchain technology can bring transparency to the process.
What is Supply Chain Management? Supply Chain Management is an important procedure of enhancement prompting lower costs and beneficial outcomes for organizations. It makes a manageable, upper hand while boosting client esteem. It looks for tremendous consideration and labor. It is the overall management that starts with the flow of goods and services, the movement and the storage of raw materials and finished goods from the origin to the end customers. And delivering the international customers and different locations, the work takes a huge planning. Blockchain technology has the capability to resolve the human error in terms of time, communication, etc. Solving the problem of Traceability and Transparency The growing difficulties in the supply chain are usually complicated to resolve. It is vital for a small and large-sized business to maintain traceability and transparency of all processes. Traceability let the whole system connects all the stages in the supply chain together. It identifies, trace the history, distribution, position, applications of products & materials and records and control the process from manufacture to the end-consumer.