07/02/2019 | News release | Distributed by Public on 07/02/2019 04:27
Ultimately, blockchain can increase the efficiency and transparency of supply chains and positively impact everything from warehousing to delivery to payment. Blockchain provides consensus-there is no dispute in the chain regarding transactions because all entities on the chain have the same version of the ledger.
A complex Supply chain ecosystem demands collaboration and coordination between multiple stakeholders at various stages. 'Just-in-Time' also applies to data exchange for effective decision making. Some of the common challenges are:
The traditional approach of integrating systems does not fit the bill because it entails huge costs and it does not fully address the concern around data security and integrity.
Blockchain as an enabler
An alternative enabler to address these challenges is Blockchain; with its immutable distributed database architecture and consensus-based data sharing.
All these use cases are potential candidates for a Blockchain based solution with a high return on investment. Therefore, we are witnessing many early adopters of Blockchain in the supply chain segment, after the Financial Services industry.
Capgemini's Center of Excellence for Automotive and Manufacturing, CHROME, has developed Trusted Logistics - a Digital Threadof a logistics operation, that captures the product's journey right from origin to last mile delivery.
You can connect with Rahul Pandhare for more on this topic.