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Supply Chain Blockchain Development
Supply chain comes to denote the process of taking a product or a service from the provider to the customer. Though it sounds simple, supply chain has a complex base as there is a huge workforce behind its operation. The vastness of the supply chain sector poses several issues including lack of transparency, reliability and tractability.
Blockchain implementation in the supply chain sector shall solve all the problems and impart enhanced security and complete transparency to the supply chain sector.
At SHAMLA TECH, we provide extensive supply chain blockchain development services to help you reach your customers at a faster pace and serve them better.
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Why is supply chain management imperative?
Any product or service goes through a chain of events before it hits the market to be purchased by the customer. Every step of the supply chain is as important as the other and any small disruption will degrade the entire process. In such a case all the manpower put in will be of no use. With all these said, an effective management of supply chain is the need of the hour.
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Problems in Supply Chain
Transparency
Supply chain lacks lucidity as it witnesses a series of activities meaning there are chances for fraudulence anywhere in the chain.
Forgery
Forging the products in a supply chain is not a herculean task especially with a lot of people involved in it.
Tracking
Without a proper channel to track the whereabouts of the goods, products may get lost to the disappointment of the customers.
Inventory update
It is difficult to maintain up to date records in a supply chain as the record keeping takes place on a manual basis.
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BLOCKCHAIN PATHWAY FOR SUPPLY CHAIN
Blockchain Solutions for Supply Chain
Record Maintenance
Protect supply chain data with advanced security framework
Provenance Tracking
Get access to the history of a supply chain with blockchain powered sensors and RFID labels
Trust
Consistent and authentic information to gain the trust of the stakeholders
Cost reduction
Eliminate the interruption of middlemen and cut short the expenses
Security
Highly constrained framework to keep the data intact
BENEFITS OF BLOCKCHAIN APPLICATION IN SUPPLY CHAIN
Fraudulence prevention
The decentralised nature of the blockchain technology allows any participant in the supplychain to view the overall processes. So any change that is made is visible for all the phases providing a security for the data forbidding any fraudulent activity.
Instant issue identification
The blockchain holds a complete data of each and every activity in the supplychain from the origin to the end providing complete traceability and transparency to know where anything has gone wrong easily.
Elimination of manual errors
Blockchain gathers certain data by itself automatically which avoids the errors that occur during manual data entry. You can also implement AI into the blockchain to get highly automated recording.
Enhanced record management
Blockchain documents timestamped information throughout the journey of the loads that are verified and approved by the decentralized network. This feature accounts for more honesty and lets down the counterfeit.
Improved vendor- consumer relationship
The traceability, immutability and transparency of the data create trustworthiness among the customers. This confidence creates more interest and demand in the public with improved relationship with the vendor.
Blockchain Use Cases in Supply Chain Management
Seafood Verification
The blockchain powered sensors can follow and record the condition of the Seafood right from the beginning to the end where the product is handed over to the customer. The blockchain incorporation can also let the seafood pass through the customs in no time because the in- built smart contact sees to that the essential protocols are rightly met.
Pharmaceuticals
The immutable characteristic of blockchain makes possible the direct passage of the pharmaceutical products from the maker to consumer and enables individuals to check if the product is safe. Besides guaranteeing trustworthiness, blockchain innovation can help conquer the budgetary issues of the retailers.
Fruit Supply Chain
Blockchain keeps track of the fruit supply chain data such as the shelf life of fruits and other related freshness metrics ensuring food safety. With Blockchain transparency, the stakeholders of the fruit supply network from growers to end customers can evaluate the quality of fruits anytime.
Coffee Supply chain
With blockchain, it is easy to identify the primary source of coffee and determine its quality. Blockchain implementation in coffee supply chain promises the farmers a fair pay besides allowing them to keep track of the sale.
Features of Blockchain
Immutability
A transaction once recorded on a blockchain can never be altered
No middlemen
Blockchain works on a peer to peer base eliminating the involvement of third parties
Rapid transaction
Transactions on a blockchain are much faster than the traditional methods
Security
Supply chain transactions are given multifold protection with blockchain incorporation
Transparency
All the members of the blockchain witness the changes done to it
Reliability
Supply chain transactions become all the more lucid with blockchain increasing the reliability of the stakeholders
PLATFORMS
Ethereum
HYPERLEDGER
MULTICHAIN
EOS
Neo
Quorum
R3 Corda
Stellar
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