In this present market, Supply chain industry has become one of the most needed services. Almost all the essential services depend on a reliable & secured supply chain network. It takes a lot of time for delivery because of the type of product, standard, covers multiple geographical locations, involves several third-party entities in between and covers months of time. This excess demand for all the services has made the supply chain process too complicated. So today, Managing supply chains include complex co-ordination to transport and distribute the goods.
Blockchain technology has the potential to increase the efficiency and transparency of the supply chain process and positively impact everything from warehousing to delivery to payment. Furthermore, Blockchain facilitates bringing in the necessary reliability and integrity in supply chain management.
How Does Blockchain work in Supply chain management?
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Benefits of using blockchain technology in supply chain management
Here are the 10 major advantages the blockchain technology brings to the supply chain industry,
1. Reduce or eliminate fraud in the supply chain process
2. Increase trust among parties and avoid product delays
3. Keeping records and Reduce paperwork unto 15%
4. Improve inventory management
5. Real-time tracking. so can Identify the issues faster
6. Securing the supply chain
7. Automating the purchase process
9. Enhanced Transparency
10. Greater Scalability
Pulsehyip expertise in Blockchain technology
We at Pulsehyip have realized the importance of Blockchain technology in today’s Supply chain and logistics industry. Being the pioneers of blockchain project development, we have specially designed and crafted intelligent White label solutions which can effectively cater to the modern day requirements of organizations.
We cater the user-friendly and customized business solutions according to the needs of our clients. The blockchain technology can effectively disrupt other industries namely banking, finance and the healthcare industry and more. Read this blog to know about 19 industries being disrupted by blockchain.
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