With blockchain technology, companies can rebuild their approach to supply chain management at the ecosystem level and go from islands of insight to an integrated global view. With blockchains, through the ability to track and manage resources at the ecosystem level, the payoff should be much greater accuracy and, from there, better forecasts, and the need for less inventory to maintain the same service level.
It’s important to clarify that the blockchain isn’t merely a prerequisite piece of software to buy. As an integrative technology, its underlying logic and processes force data to become synchronized — and that allows companies to capture the broad benefits blockchain offers. Here are the potential benefits of supplementing the already existing system in use with Blockchain Technology.
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