Blockchain is set to play a massive role in how supply chain management is going to be shaped up over the next few years. Building trust will be a crucial task that the technology will need to ensure. Supply chain management too isn’t quite well- defined, as its role changes depending on the exact nature of industry. Blockchain will afford a sense of uniformity to the field. A more end- to- end process needs to be put in place. Data warehousing will become much easier, in turn leading to better analysis of the entire picture. The data would also be decentralized, allowing others to look out for crucial signs. Professionals will need to understand the concept of smart contracts when working on blockchain. A lot of people are under the impression that blockchain is the only technology that can be used in supply chain management, but this is not true, as there are alternatives available. Other industries such as pharma and healthcare also have the potential to be positively impacted using this technology.

Source:https://knowledge.wharton.upenn.edu/article/blockchain-supply-chain-management/

Uploaded Date:16 August 2019