📌 Blockchain for Supply Chain Summary
Blockchain for supply chain means using digital records that cannot be changed to track products as they move from the factory to the customer. Each step, like manufacturing, shipping and delivery, is recorded and shared with everyone involved. This makes it much easier to check where products come from and helps prevent mistakes, fraud or delays.
🙋🏻♂️ Explain Blockchain for Supply Chain Simply
Imagine passing a ball down a line of friends, and every time someone gets the ball, they write their name in a notebook that everyone can see. If someone tries to cheat or skip a turn, it is obvious to everyone, so no one can hide what really happened.
📅 How Can it be used?
A company can use blockchain to track all shipments of food products, ensuring safety and transparency from farm to supermarket.
🗺️ Real World Examples
Walmart uses blockchain technology to trace the origin of mangoes and pork in its supply chain. This allows them to quickly identify the source of contamination in case of a food safety issue, reducing the time needed to trace the product from days to seconds.
De Beers, a diamond company, uses blockchain to track diamonds from the mine to the retail store. This transparent tracking helps prove that diamonds are ethically sourced and not linked to conflict zones.
✅ FAQ
How does blockchain help make supply chains more transparent?
Blockchain stores every step a product takes, from its creation to delivery, in digital records that everyone involved can see. This means it is much easier to check where items have been, who handled them and when. It helps people trust that what they are buying is genuine and that it has not been tampered with along the way.
Can blockchain prevent mistakes or fraud in supply chains?
Yes, because blockchain records cannot be changed, it is much harder for anyone to cover up errors or trick the system. If someone tries to alter a delivery date or swap out a product, everyone will see it. This makes it much safer for both companies and customers.
Why would companies want to use blockchain for their supply chains?
Companies want to make sure their products arrive on time and are exactly what they are meant to be. Blockchain helps them keep a clear, shared record of every stage, which reduces confusion, cuts down on paperwork and makes it easier to solve problems quickly. It is a way to build trust with customers and partners.
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🔗 External Reference Links
Blockchain for Supply Chain link
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