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❶ Blockchain can improve the transparency and flexibility of supply chains

Today’s market competition has become increasingly dynamic and demanding, resulting in a challenging competitive environment. To adapt to this dynamic environment, supply chains increasingly rely on collaboration, integration, flexibility and trust among those taking over. Therefore, new technology applications are becoming increasingly important in supply chains.

In order to improve supply chain process control, Maoqiu Technology believes that modern professional applications must be implemented. Blockchain technology has become an essential part of today’s competitive environment. Companies should invest in blockchain technology to quickly respond to changing market conditions and demands in today’s dynamic business environment.

According to a paper report released by MDPI, blockchain solves the two main problems of traceability and transaction irreversibility in the supply chain, thereby effectively improving the transparency of the supply chain. Transparency, as a point of importance to all stakeholders in the supply chain, can ensure that product information can be viewed and obtained in a timely manner, and there will be corresponding losses caused by information delays.

Supply chain transparency is primarily based on information about the movement of products along the supply chain. If companies are to maintain the ability to proactively communicate with stakeholders to gain visibility and traceability of their supply chain operations, they can ensure visibility and visibility of information about products, services, financing and the flow of information from manufacturer to customer. Accessibility.

In the above manner, stakeholder feedback can be included in the blockchain to improve the performance capabilities of the supply chain. In addition, the history of a product can be tracked throughout the supply chain, and a clear picture of current activity can be displayed. Companies can confront environmental or social issues through transparency by articulating core values ​​to reduce uncertainty in public markets.

Many stakeholders have high hopes for blockchain due to its capabilities such as real-time information sharing, security, immutability, and transparency. With its proof-of-work and distributed database structure, blockchain can increase supply chain transparency while using real-time distributed data sharing to enable stakeholders to identify data related to product quality, location, transactions and procedures.

These capabilities of blockchain enable product tracking, allow for comprehensive product verification and product authorization throughout the transaction process, and provide end-to-end auditing based on permissions across the organization. Blockchain reduces the opportunistic behavior of trading partners in terms of information tampering, corruption, fraud, etc.

Therefore, blockchain provides transparency in transactions between trading partners, thereby increasing trust, and blockchain strengthens the relationship between suppliers, customers, outsourcing, The relationships between 3PLs and subcontractors make the supply chain more efficient and transparent.

Blockchain technology canBring transparency to the supply chain to help build trust and reputation. Large-scale blockchain solutions have the ability to completely redesign reputation management and detect fraud across entire networks. Blockchain consensus provides a solid foundation for the unification of opinions and the ability to achieve higher transparency. Establishing a decentralized supply chain based on blockchain technology instead of a centralized supply chain in the supply chain obviously has the advantages of being more efficient and transparent.

As supplies become more widely distributed, the risk of conflicts, mismatches and inconsistencies in traditional supply chains increases. Blockchain can allow for better tracking and reporting, increasing transparency in supply chain processes, thereby improving delivery schedules. For example, GPS-based vehicle tracking devices can be used with blockchain to provide the blockchain with data that cannot be overwritten and tampered with, which can reduce costs and increase efficiency when it comes to logistics vehicle tracking.

Contemporary supply chains are more complex, dynamic and uncertain than ever because they involve many departments. So creating a flexible supply chain is key to achieving sustainable competitive advantage. A flexible supply chain improves delivery processes and quickly moves products to required markets.

Business transactions are becoming increasingly volatile and global. Agility is achieved when a company can effectively respond and adapt to competitor disruptions and demand changes throughout the supply chain to meet customer needs.

Rapid economic and technological development requires increased flexibility in both internal (marketing and manufacturing) and external (supply and distribution) supply chains. Companies with flexible supply chains can be more resilient in uncertain situations. Respond quickly and provide the company with the ability to demonstrate products and services quickly and effectively.

In a globalized world, competition has spread to the entire supply chain, not just companies. Therefore, supply chain members need to reorganize themselves to balance the organization's ability to respond to market changes by increasing flexibility.

In today's economic environment, companies outsource some business processes to ensure supply chain flexibility, which often results in a loss of control and visibility of various logistics operations. Thanks to digital technologies, visibility into integrated transport and logistics systems will be achieved at all stages of goods delivery, from manufacturer to end user. Companies need to share information directly so it can be quickly applied to every company in the supply chain, thereby increasing supply chain agility.

So this requires different information to ensure that the chain can function as a whole. Therefore, information transferred from one organ to another should be helpful and available elsewhere in the chain.

Blockchain technology serves customers by facilitating tracking and tracing of orders from various stages of production to delivery and quick adjustments. The applications brought by blockchain technology can only be realized at specific touch points in the network if accepted by the relevant parties, thusControl data security for all supply chain transactions.

Blockchain can increase supply chain visibility and enable real-time data sharing over the network. Therefore, blockchain can support supply chain flexibility strategies by reducing the number of stakeholders affected by disruptions.

At the same time, blockchain can also quickly integrate all on-chain processes to improve forecasting and management of demand, thereby achieving more realistic supply and inventory management.

Blockchain technology has become one of the most common concepts today. As digitization becomes a common phenomenon, we have begun to digitize our assets.

Blockchain can serve as an effective tool to build trust in the supply chain by increasing transparency and flexibility in the supply chain. However, Maoqiu Technology also believes that the real implementation of blockchain in supply chain applications cannot be separated from mutual trust between enterprises. Only in this way can an effective consensus foundation be formed, mutual collaboration capabilities can be improved, and the operating efficiency of the supply chain can be improved.

❷ What are the main development trends of supply chain blockchain?

The main development trends include digitalization, intelligence, sustainability, collaboration, globalization, etc.

❸ How does blockchain help the new retail supply chain?

The new retail supply chain requires digital logistics information integration capabilities, independent equipment, intelligent warehousing conditions, and standardization quality control management. The distributed accounting of the smart cloud blockchain can read logistics information at will. It does not need to be attached to the existing digital center, saving data cloud costs. At the same time, it can achieve more efficient information integration and fiber sales collaboration.

❹ What is the main value of the supply chain blockchain?

The main value of the supply chain blockchain lies in the following aspects:

Improve supply chain efficiency Chain transparency: Blockchain technology can realize the sharing and recording of supply chain information, thereby improving the transparency and visibility of the supply chain. By sharing and recording supply chain information, potential risks can be better identified and managed, and overall supply chain efficiency improved.

Strengthen supply chain security: Blockchain technology can ensure that data is not tampered with or forged, thereby strengthening supply chain security. For example, during the procurement and transportation of raw materials, blockchain technology can be used to better track the flow of goods and prevent counterfeit and shoddy products or malicious attacks.

Optimize supply chain costs: Blockchain technology can simplify complex transaction links in the supply chain, thereby reducing supply chain costs. For example, in trade finance, using blockchain can simplify transaction processes and reduce labor and time costs.

Improve supply chain efficiency: Blockchain technology can speed up the transmission and processing of supply chain information and optimize supply chain efficiency. For example, in the logistics process, the use of block chain can realize automated processing and tracking, improving logistics efficiency and accuracy.

Promote supply chain cooperation: Blockchain technology can establish a decentralizedThe data sharing platform allows different nodes in the supply chain to better collaborate and trust each other. Blockchain technology can change traditional competitive relationships and establish a more cooperative and fair supply chain ecosystem.

To sum up, the main value of supply chain blockchain lies in its advantages in improving supply chain transparency, strengthening supply chain security, optimizing supply chain costs, improving supply chain efficiency, and promoting supply chain cooperation. , thereby realizing the digital transformation and upgrading of the supply chain.