The modern-day consumer is done with the old-fashioned modus operandi of supply chain management and the red-tapism over parcel movements. They expect better experiences concerning speed, visibility, traceability, transparency, and sustainability. To ensure this, they are willing to pay more or ready to try alternatives for their beloved brands even if a single experience goes haywire. Supply chain stakeholders will have to devise ways to meet these needs and address the rising concern over trust in increasingly complex and denser supply chains. Blockchain as technology comes as the perfect resolution to improving traceability, security, and transparency in the global supply chain and increasing efficiency. Blockchain, a decentralised, distributed ledger, prohibits tampering, ensuring trust and transparency at all levels. Blockchain allows for digitization and automation on shared network infrastructure. Hence, it improves collaboration and communication among stakeholders. Manual processes are eliminated while documentation and transparency over import and export and customs processes become automated and auditable.
Read more : Blockchain Is Perfect Resolution For Global Supply Chain.
