annasputra: Technology Syncfab

The supply chain gets a strong makeover with blockchain technology

The supply chain is no longer limited to traditional OEM networks and OEM suppliers. They have evolved into a vast ecosystem whose product variants go through many channels, each trying to work seamlessly.

A single company can handle multiple manufacturers, all using the same supplier network and feeding various distribution models, from online delivery to conventional retail stores.

Operations are also more dynamic now in the supply chain, shortening product life cycles and accelerating and accelerating the production cycle. With the introduction of blockchain into this dynamic supply chain, many advantages can be gained.

Block channel capabilities

Although supply chain management is applied by the company, the basic management concept has grown very little. All this will change with the introduction of blockchain. How can companies benefit from the blockchain?

With the decentralized approach of blockchain, companies can derive an integrated global perspective and rebuild strong supply chain management.
You can avoid the presence of intermediaries to deal with complex negotiations with various commercial transactions.
You can avoid the complex implementation of complex rules to ensure proper handling of confidential business information when using intermediaries.
When using block strings, you can sync all important data and share them directly with non-mediated partners.
Block chains are cross-examined and intensively exaggerated, making them a reliable and secure financial solution.

Building trust

Blockchain connects even the furthest part of your supply chain network. It integrates all of your corporate governance, including processes and transactions, into a central network. Suppliers and buyers can handle more effective blockchain technology models reliably. With its great scalability and technological advantages, blockchain can change the entire scope of supply chain management.

Many companies such as IBM, Walmart, and Syncfab supply chain software developers have embraced blockchain technology to improve efficiency and reduce the risks typically associated with supply chain management. .

Improve supply chain efficiency

When blockchain is part of the supply chain, you can inventory efficiently, without a single inventory that is twice in one place. In short, the movement of products from the manufacturing platform to the final consumer will be constantly updated everywhere and for everyone involved. Traceability becomes simplified.

And traceability does not stop inside the company. You can also track what your partner is buying and with the solution supported by blockchain you can calculate the total amount of purchases. So you can do this without violating the confidentiality of individual volumes of each company involved.

The key chain in the supply chain network can turn the supply chain into an intelligent system where the supply current is almost simulated. Automation comes true with the integration of all physical processes. The entire supply chain is completely transparent and turns into an agile network. Regardless of the data that exists in your business, the data can be distributed to supply chain members, enhancing collaboration, efficiency, and productivity. Companies with underutilized capabilities and limited marketing budgets will greatly benefit from this merger.