Tag Archives: Supply Chain Management

Blockchain Can Rewrite the Future of Supply Chain Management

Blockchain is more than just an instrument of finance, in fact calling it a ledger recording only
transactions is misleading. It is more of a ledger recording “agreements.” It is an immutable
system which records the history of “deals” made between two or more parties, in which neither
party can go back and change the terms. If you think along these lines, you will realize blockchain
has innumerable functionalities apart from merely keeping a record of financial transactions. One
such use is transforming the future of supply chain. Imagine documenting every move of a product in
an immutable ledger as it changes hands, generating a long list of interconnected blocks containing
complete product lifecycle information. This will give rise to a supply chain ecosystem which is
faster, cheaper, and free from any human error threatening its authenticity.

Reference: https://themerkle.com/how-blockchain-can-rewrite-the-future-of-supply-chain-management/