🔶𝐏𝐚𝐫𝐭 𝟑 - 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐈𝐧 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭:
🔶𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐨𝐟 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐢𝐧𝐠 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧:
🔹𝐈𝐦𝐩𝐫𝐨𝐯𝐞𝐝 𝐓𝐫𝐚𝐜𝐞𝐚𝐛𝐢𝐥𝐢𝐭𝐲, 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐚𝐧𝐝 𝐓𝐫𝐮𝐬𝐭:
The key quality of the blockchain is the transparent and immutable record of all transactions within the supply chain. This facilitates the tracing of products from their origin to their destination, improves accountability and reduces the risk of fraud. This also provides greater transparency within the supply chain and allows companies to track products and monitor performance in real time. This in turn can also improve trust between partners within the supply chain.
🔹𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐋𝐞𝐚𝐝𝐬 𝐭𝐨 𝐒𝐩𝐞𝐞𝐝:
By automating many processes within the supply chain, blockchain technology can increase efficiency and reduce costs. This could include automating payments, tracking inventory levels, or streamlining logistics processes. And it paves way for another critical component: the need for speed.
🔹𝐑𝐞𝐝𝐮𝐜𝐞𝐝 𝐂𝐨𝐬𝐭𝐬:
Implementing blockchain technology can help reduce costs across the entire supply chain by eliminating intermediaries and reducing administrative overheads. That starts in the development and planning phase and stretches to making, delivering and also returning products.
🔹𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐛𝐲 𝐈𝐦𝐦𝐮𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲:
Blockchain tech is highly secure due to its distributed nature and cryptography use. Immutability, a key feature, ensures data permanence via distributed ledgers and cryptographic methods. This prevents tampering by malicious actors, enhancing traceability and trust in the supply chain. It also aids in maintaining accountability among parties involved.
🔹𝐁𝐞𝐭𝐭𝐞𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞:
Customers benefit from blockchain in SCM as it speeds up product delivery and enhances accuracy. Its transparency enables customers to trace product origins and track them through the supply chain, fostering trust and ensuring authenticity. This trust, coupled with the ability to make sustainable choices, drives customer satisfaction and enhances the overall experience.
✅ Add your thoughts and comments ✍
✅ Share it, help to spread information and ideas 💥
#LinkedIn #Procurement #SupplyChainManagement #MaterialManagement #ProcurementTransformation
#DirectProcurement #IndirectProcurement #IT #BlockChainTechnology
Lead, Engineer | PSM I | PMP | Smart and High Performance Materials (metamaterials) | Data Analysis & Visualization | Lean 6sigma (black belt) || Member Deutsche Gesellschaft für Materialkunde
3moHello DHL, Life is at stake on this complaint!!! Delay/lost of packet. I sent my wife confidential document to Czech Republic using your service (DHL express) on 22.06.24 with a delivery date stated Tuesday 25.06.24. Up on till today the package is still in Dortmund. I called your customer care and all online services you are associated with but the reply was they have no clue why my package was delayed. Important!!! This document needs to get to Czech Republic today 26.06.24 Else my wife will miss the opportunity she has been waiting for for the past 2years. I am depressed and sad and angry but yet I still believe something can be done through your company. I am contemplating involving the a lawyer incase she miss this opportunity because of this but I am giving opportunity for amendment. Please do something before I get this escalated!!!. Kindly write me for the details of the package if you want to follow it up. Kind regards Oluwabi