Blockchain technology is redefining supply chain management by improving transparency, traceability, and trust across global networks.

What is Blockchain in Supply Chain Management?

  • Blockchain is a decentralized ledger that records transactions securely and transparently.
  • Each transaction is time-stamped and immutable, ensuring data integrity.

Benefits of Blockchain in Supply Chains

  • Traceability: Track products from raw materials to finished goods.
  • Transparency: Provide stakeholders with real-time data on product status.
  • Fraud Prevention: Reduce counterfeiting and unauthorized modifications.

Real-World Applications

  • Food Safety: Tracking the origin of perishable goods to ensure quality.
  • Pharmaceuticals: Preventing counterfeit drugs through secure tracking.
  • Luxury Goods: Verifying authenticity and reducing theft.

 

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