Blockchain - A Game Changer In On-Demand Supply Chain, Transportation, And Logistics Industry

The Introduction of Blockchain In Transportation & Logistics

Blockchain technology gives intelligence to track and record every transaction between the parties. Integrating Blockchain Technology can reduce the supply chain barriers and increase sales by almost 15%, says World Economic Forum. Many companies have already started using blockchain to overcome the challenges faced in the supply chain industry. Some of the front runners using blockchain in logistics and supply are Amazon, Walmart, FedEx, Unilever, Alibaba. This technology helps the supply chain in improving transparency and efficiency by preventing inaccuracies and fraud. And also helps in the cutting of paperwork and expenses. 

 

Blockchain - A Better Programed Solution

Blockchain is used to solve many issues in the supply chain industry such as data keeping in records and tracking of products. A better-programmed solution can be given to the centralized database with the help of blockchain technology. Apart from this, there are several other ways in which blockchain technology can improve the working of the supply chain industry.
 

1. Origin Tracking

Even the companies with very advanced workforce lose track of transactions due to the very high volume of transactions and many elements in the supply chain. This inefficiency leads to many other issues like loss of customer data cost, unpleasant customer relationship, and brand dilution.
 

Here the blockchain-powered supply chain crystal clear tracking and record-keeping lead to any information fetching and embedded sensors and RFID tags. The history of the products can be tracked rightly. The accuracy of tracking helps in preventing frauds. 
 

 2. Cost Reduction

With blockchain, while maintaining the security in the transactions simultaneously the extra cost can also be reduced. The middlemen and intermediaries can also be eliminated. This reduces the risks of frauds and duplicity of products and enhances accurate record-keeping and savings.
 

More than one-third of people think that reduction of costs is the foremost advantage of blockchain in the supply chain industry, says the survey was done by APQC and the Digital Supply Chain Institute Of Supply Chain workers. This is because of the real-time product tracking offered.
 

3. Confidence Building  

It is very essential to build trust in the system for hassle-free operations for the multiple participants in the complex supply chain. The blockchain is characterized by immutable record-keeping which protects the information from changing on all levels.
 

Six Ways That Blockchain Can Lift A Supply Chain, Transportation, And Business
 

· Improved Efficiency

· Immutable Tracking And Security

· Easy Integration With Other Technologies 

· Automated Payments

· Reduces Fraud And Theft

· Watching The Performance History

 

If you’re a supply chain business looking to transform your business with blockchain, get in touch with us. We Startupmart, an on demand app development company offer the best On Demand Logistics App Development With Blockchain Technology with our certified On-Demand app developers,

who are experts in blockchain technology too.