Modern supply chains are faster, more dynamic, and more volatile than ever before. The digital economy thrives on scouring the globe for new markets and new sources of supply. Furthermore, agile supply networks outpace rigid supply chains, anticipating demand from empowered customers. But in contrast with rigid legacy supply chains that bind known and trusted vendors, an agile network of temporary suppliers might damage customer experience by concealing the origin and characteristics of components or ingredients. Blockchain and distributed ledger technologies can help by increasing visibility of supply chain documentation. They can reduce inspections, boost trade credit, and build trust, even with new, or temporary, suppliers.
Please remember, though, that blockchain alone can’t deliver on exaggerated promises to guarantee physical integrity of authenticity. Check out our video here:
Read our report about blockchain hope beyond the hype here.
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