This is a decentralized supply chain app for asset tracking.
Large no. of companies have been using the blockchain technology for supply chain applications. This factor bolsters the market
- Difficult for small businesses
- Outdated technology
- Current manufacturing lacks accessibility to the procurement process
- Businesses lack intellectual property protection
- Rules can be agreed upon beforehand and applied to the blockchain
- Blockchain can help companies realize the digital supply chain by providing a "single version of truth" for the entire supply chain
- By sharing important information such as sales data, inventory levels and shipment information, companies can eliminate information delays and the uncertainty that contributes in inflated safety stock
- With all partners posting to a common ledger, businesses can gain visibility to the entire networks, from their suppliers to their customer's customers
This enables them to foresee problems and address them, resulting in a smoother, more efficient supply chain