{"id":1539,"date":"2019-05-03T06:55:35","date_gmt":"2019-05-03T06:55:35","guid":{"rendered":"https:\/\/www.technoloader.com\/blog\/?p=1539"},"modified":"2026-01-08T12:02:40","modified_gmt":"2026-01-08T12:02:40","slug":"supply-chain-management-on-blockchain-technology","status":"publish","type":"post","link":"https:\/\/www.technoloader.com\/blog\/supply-chain-management-on-blockchain-technology\/","title":{"rendered":"Supply Chain Management on Blockchain Explained for Beginners"},"content":{"rendered":"

Is there any way to ensure that the supplies you get in the grocery stores or shopping malls are genuine? From the clothes to edible products and medicines, every item has been subjected to counterfeiting, bringing us the same question, how do we ensure that a certain product is not fake?<\/p>\n

The answer may disappoint you but you have no way other than trusting the retailers.<\/p>\n

That\u2019s because there is no way to discern the products, you can either go with them or choose to buy something else which may not even meet your requirements.<\/p>\n

However, with technology there are now rising chances for the customers to get the genuine product without doubting its quality.<\/p>\n

<\/span>How is it possible?<\/span><\/h2>\n

The answer is blockchain technology which makes everything possible in any industry. It brings a decentralized approach into every operations and ensures that every single entry is registered and is also trackable.<\/p>\n

Those who are hearing this term for the very first time, blockchain is a decentralized distributed ledger. In simple words, it is a network which keeps information distributed in blocks all across it. The advantage of this is, if any any information is introduced in the network it is recorded with a smart contract which is indelible.<\/p>\n

\n

<\/span>\"Image\u00a0 Why Supply Chain software is important for your business?<\/a><\/strong><\/span><\/h2>\n<\/blockquote>\n

It all started with the first cryptocurrency, Bitcoin and now the technology is making its way\u00a0 into every industry. The implementation of this technology is increasing day by day and is reaching more businesses at every level. Its inroads into the supply chain management has been hailed by the industry experts across the globe.<\/p>\n

And that\u2019s exactly what\u2019s going to change the scenario of goods\u2019 supply in the entire world. Especially, in the developing countries where the every stage of supply system is infested with middlemen. Blockchain is going to change it for good and it has already begun with various large and small projects.<\/p>\n

<\/span>What is Supply Chain Management?<\/strong><\/span><\/h3>\n

As per the standard definition, supply chain management is the method for maintaining the flux of goods and services, it records their storage and constant movement. It also concerns with the handling on inventory and disposition of finished goods from the point they are manufactured till the time they reach the end-user.<\/p>\n

And the word \u2018chain\u2019 draws our attention to the fact that it also engulfs the network of individuals, activities, technologies, organizations and resources involved in this entire process. As hinted above, supply chain starts from the very first phase when the product is readied by the manufacturer to get transported and ends with its delivery to the consumer.<\/p>\n

<\/span>If you follow this procedure closely, you would definitely achieve:<\/strong><\/span><\/h3>\n