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BLOCKCHAIN - THE TECHNOLOGY RESOLVES PROBLEMS OF SUPPLY CHAIN

Blockchain is an information storage technology in one-directional block chain where all data changes are recorded in real-time. In the Supply Chain, Blockchain technology allows verification of information throughout the product life cycle, tracking the flow of products between parties without having to constantly record manually.

Blockchain technology can solve the problem of lack of transparency, lack of connection between parties, etc. of the Supply Chain with its outstanding features.

SUPPLY CHAIN TRANSPARENCY

The core system of the application will be decentralized according to certain roles such as manager, quality control party, distributor, etc.

  • Goods standards help to make production information transparent
  • Information is authenticated, censored by many different management parties
  • Create a transparent information chain

SUPPLY CHAIN OPTIMIZATION

Information in Blockchain can be displayed to everyone in the system as decentralized.

  • Reduce or even eliminate fraud
  • Increase the ability to manage inventory
  • Reduce shipping costs
  • Help supply chain managers to respond promptly to incidents occurring in the chain

⇒ Create an effective supply chain.

Increase the trust of users and partners

Data is completely transparent between the parties involved. Exporting products will be less complicated because importers can easily check the origin of the product as well as everything related (e.g. raw materials) on transparent platform of Blockchain.

Increase security for the system

All data entered will be recorded directly on the Blockchain platform (data cannot be modified) in the direction of the product and in real time.

Traceability

Allows consumers to verify information, trace the product’s origin when it was a raw material until it’s on the shelf by QR code transparently.

The partners will easily join the system

Each participant will be a node in the Blockchain system so new businesses will not need to completely reinitialize the system from the beginning.