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Blockchain for Supply Chain - how do you get it started?

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With a company with already established supply chain processes using tools like Oracle, Agile, and ubiquitous Excel, how do you evaluate and implement the use of blockchain?

Blockchain
Supply Chain
Business Change
Philip Tuet
33 months ago

3 answers

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Blockchain will help to accelerate the time to market and increase the efficiency of the processes, privacy risks will be reduced, operations will speed up. Business to business operations will be more secure and transparent, data will be more protected.

Paolo Beffagnotti
33 months ago
Thank you for shedding light on some of the benefits. Any thoughts on how to implement a blockchain program? - Philip 33 months ago
Cryptography will secure data, it is impossible to modify the previous information without changing the following ones. It will create trust among multiple parties. This is the technical process explained in a very simple way: define what the block will look like. Create the first block and then generate the succeeding ones. Each block hash data from the previous one to secure the information. - Paolo 33 months ago
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Hi Philip - For any blockchain implementations, there are typically standard set of activities that we should be doing in terms of identification of participants, selection of platform, use case elaboration, etc. For use-case like SCM, it is very important to make a network of the supplier, importer, shipper and other key stakeholders for benefiting from the implementation.

If you have any specific question, I would be glad to share my thoughts on them, do let me know.

Ravi Agrawal
33 months ago
Thank you for the explanation. As a follow up question, how do you keep competing suppliers separated/isolated from one another? Do you set up multiple block chain threads? - Philip 33 months ago
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For supply chain management, the blockchain innovation offers the advantages of traceability and cost-adequacy. Put just, a blockchain can be utilized to track the development of products, their starting point, amount et cetera. This achieves another level of straightforwardness to B2B biological systems - disentangling procedures, for example, proprietorship exchange, creation process confirmation and installments.
Know more about cryptocurrency exchange.

Gaurav Rawat
33 months ago
Thank you for the informative answer. - Philip 33 months ago

Have some input?