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Supply chain can basically be defined as the network of processes, individuals, stakeholders who and which are involved in the transportation and supply of goods, products and services from the manufacturer to the final consumer, this processes can be very complex, it lacks traceability meaning that manufactures and stakeholders do not control what is done with their product when it has been sent out.
To address this issue of lack of traceability in the supply chain, the blockchain technology can be implemented, seeing as its technology and advanced features and protocols are applicable in many other areas apart from cryptocurrency, the blockchain technology has the potential to enhance the operations of the supply chain and ensure traceability.
Traceability is very important in a supply chain network so as to facilitate accountability amongst the drivers or delivery organisation and ultimately ensure there are no manipulations or counterfeiting therefore, in this post of mine I am going to be discussing and explaining some of the roles in which the blockchain technology can play in ensuring and enhancing supply chain traceability.
- BY ENHANCING TRANSPARENCY
The blockchain technology and its based networks are widely known for transparency amongst many other things therefore, one of the significant and basic role in which the blockchain technology can play in enhancing and ensuring the traceability of the supply chain traceability is basically by enhancing transparency of the supply chain network.
The supply chain normally or often times operate in silos, and there, each stakeholder maintains or keeps his or her own records this method of operation causes a division, breakage and fragmentation of the information and data of the production process and of the factory or farm, which will cause delays and inefficiencies and the records can be manipulated.
However, with the introduction and implementation of the blockchain technology, this issues will all be addressed seeing as the blockchian technology possess and operates on an immutable and unmanipulatable ledger which it will use to keep records of transactions, production and movements of goods on the supply chain.
- STREAMLINING DOCUMENTATION AND RECORD KEEPING
The supply chain as I said earlier is and can be a complex process, so as to comply, follow and keep to regulatory requirements and guidelines, the supply chain has to undergo series of documentations, licensing, certificates and shipping manifests just to mention a few, this process of documentation can be stressful and time wasting, not anymore.
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With the blockchain technology all these documentation processes can be streamlined basically by eliminating the traditional paper based documentation process which is time consuming, prone to errors, and susceptible to fraud, the blockchain digitized and automated documentation process will be used instead to show and prove authenticity of goods and products and to comply with regulations.
- FACILITATING EFFICIENT RECALL PROCESS
In terms of the supply chain or long distance delivery, "recall" basically means or can be defined as the act of returning or ordering the return of a product which is found to bad, broken and faulty, therefore another of the significant roles in which the blockchain technology can play in enhancing traceability is basically facilitating efficient recall process.
Additionally, unlike the traditional recall processes which basically involves manually trying to track and trace the faulty or bad product through the supply chain, which can be very slow and is very inefficient and a waste of time, the blockchain technology having already recorded all the details and history of every products can easily fish out and identify the faulty one.
Therefore, to run and operate an effective and efficient recall process the blockchain technology is neede so as to ensure and facilitate quick, rapid and efficient tracing of bad and affected products back to their origin and possibly addressing the cause of the damage and providing to their customers and consumers optimal services and prosucts.
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In conclusion, the supply chain as a whole is going to undergo alot of development and innovation in its method and mode of operation or operating techniques with the blockchain technology on its side.
The blockchain technology will basically live up to its name, promises and prominence for improving and innovating any sector or area in which it is implemented as we have seen in this post where I explained the different roles in which the blockchain technology can play or take up so as to enhance and ensure traceability in supply chains.