The supply chain has gone intrinsically complex, encompassing multiple players from producers to transporters, from wholesalers to retailers, and from buyers to consumers, unlike the two-man (seller-buyer) simple transaction that existed long ago. In this multifaceted process, the supply chain industry faces a critical challenge in cost, speed and product quality, directly linked to the seamless flow of data or information. Apart from lack of transparency, the hurdles faced in the sector are the complexities in information sharing and delays in data retrieval, which hold back the performance at every stage of the logistics network. Thus, creating pressure on all participants in the value chain to live up to the rising customer expectations, meet profitability targets, and overcome disruptions and delays.
Read more : Quality data in blockchain to change the way supply chains work.
