Why Blockchain Benefits the Supply Chain

Supply chains run on information. Much of the information is pretty bad – think of supply chains as a game of long-distance telephone where messages from the first participant end up badly garbled by the end. Without blockchain technology to ensure the message is clear throughout the ecosystem, we have learned to live with these big information gaps. Supply chains started to be widely digitized in the 1970s with the arrival of manufacturing requirement planning (MRP). MRP systems took a bill of materials (BOM), expanded it into constituent parts and then helped companies place automated orders.

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