Supply chain management was thrust into the spotlight in 2020 when pandemic disruptions resulted in unprecedented shipping delays and rising costs. Several years later, fallout continues to strain the industry.
When people hear"blockchain," many think"crypto," but the technology is much more than that. At its core, blockchain is one of the best ways to prove authenticity and verify ownership. This is a real step change for track and trace, and supply chain leaders are catching on.
This also enhances trust between stakeholder groups. With blockchain-powered track and trace, from the moment a product is manufactured up until it’s in the hands of a customer, key parties have access to data such as sourcing and handling information and any regulatory and ethical standards. What’s more, because blockchains are tamper-proof, the legitimacy of the information is never in question.