Blockchain in supply chain: Inventory management
Blockchain can be used to track inventory levels and optimise inventory management processes, reducing inventory costs and improving supply chain efficiency.
Blockchain in supply chain: Reducing paperwork
By digitising and automating supply chain processes using blockchain technology, administrative costs can be reduced, and paperwork can be eliminated, saving time and resources.
Blockchain in supply chain: Food safety
Blockchain can be used to track and monitor food safety, ensuring that food products are safe for consumption by providing a transparent and traceable record of the product's journey through the supply chain.
Blockchain in supply chain: Compliance
Blockchain can be used to ensure compliance with regulatory requirements by providing a transparent and auditable record of supply chain processes, reducing the risk of non-compliance and associated penalties.
Blockchain in supply chain: Sustainable sourcing
Blockchain can be used to provide transparency and traceability in the sourcing of raw materials, enabling companies to ensure that their products are ethically and sustainably sourced.
The following are some of the most popular blockchain-based supply chain platforms.
IBM Food Trust is for food supply chain management. It enables food producers, distributors, and retailers to track the movement of food products across the supply chain, ensuring transparency and traceability.
Ambrosus is another platform for food supply chain management, but pharmaceuticals. It enables businesses to track the movement of products across the supply chain and ensure their quality and authenticity.
VeChain is a blockchain platform designed for supply chain management and product authentication. It enables businesses to track their products throughout the supply chain and verify their authenticity.
Provenance provides supply chain transparency and traceability. It enables businesses to track products from the source of origin to the end consumer, providing a complete view of the supply chain.
ChainLink helps with supply chain automation, enabling businesses to automate supply chain processes by connecting smart contracts to external data sources and APIs.
