The use of public blockchain brings together all of the different components and allows for complete details to be tracked from start to finish.
Blockchain technology and its applications for supply chain management have long been discussed, but until recently, have more been a matter of potential than real-world products. The paradigm is now shifting with new applications on the public blockchain that bring provenance, permanence, immutability and scalability with integration into supply chain vendors’ enterprise resource planning (ERP) systems and their business processes.
Never has the need been more critical, as the Coronavirus disease (COVID-19) situation puts tremendous pressure on an already strenuous food supply chain. Tracking food from the source to the consumer in this current climate is becoming increasingly important to governments, suppliers, distributors and consumers themselves.
But, how is this technology integration possible with the lack of technology sophistication in the supply chain industry?
This is a misconception. Supply chain executives are actually incredibly sophisticated and immediately recognize the value of blockchain technology integration, particularly when they see how the technology covers the spectrum from source to end-consumer, but need the ability to implement it.
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