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Ten benefits blockchain brings to supply chains

  • 8 mths ago

Blockchain technology makes supply chains and sourcing more transparent, secure and efficient, and also reduces the risk of unknown ESG transgressions

Supply chain advantage of blockchain: 10. Increases security

Blockchain tech prevents important regulations being bypassed through its rogour in closing loopholes. Examples include protection against data tampering, and the creation of ‘ghost employees’. Blockchain can create a transparent audit trail of actions that cannot be manipulated.

Supply chain advantage of blockchain: 9. Sustainability 

By closing down illegal and unethical practices, Blockchain helps industry and governments act more sustainably. The tech brings unparalleled traceability which can help reduce environment transgressions such as illegally exported timber, or environmentally unsound palm oil trade..

Supply chain advantage of blockchain: 8. Objectivity

Blockchain tech makes decisions based on objective data. This eliminates human input that is based on ulterior motives like maximizing profits. For example, the decision to fell or not to fell an individual tree will be based on verified data, rather than by distorting important - and more expensive - practices such as environmentally sound felling.

Continue reading: https://supplychaindigital.com/articles/ten-benefits-blockchain-brings-to-supply-chains

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