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Supply Chain

Companies invest a lot in their digital infrastructure, their computerized enterprise resource planning (ERP), and supply chain management software. Yet, despite their expenditure, they have very limited insight and visibility about the location of their products at any given moment.

The reason for this lack of transparency, in most cases, is the analog gap between all the systems within the company as well as across company boundaries.

This problem can be tackled very efficiently with the introduction of blockchain in supply chain. A blockchain’s shared IT infrastructure streamlines workflows for all parties, no matter the size of the business network.

Agree upon and share important pieces

Blockchain in supply chain can help make partners of businesses agree upon and share important pieces of information without involving a middle man to check on everything. Blockchains synchronizes transactions and data along with the whole network, and all the participants verify the calculations and works of the others. Blockchain in supply chain is more than just an unhackable virtual ledger of transactions, it's transparency and peace of mind for the end consumer.

Challenges in todays supply chain management system

Negative Influence on brand name
Sudden risks with the expansion of supply chain
Exposure of supply chain magement to code of conduct violations as well as frauds
Duplicity of products or quality issues may increase the cost

Key use cases of blockchain in supply chain

01
Look at Blockchain use cases and determine if this technology is right for your business or not
02
Look for the right Blockchain collaboration partners
03
Identify the areas that need the implementation of blockchain in your business
04
Test the technology through a pilot program
05
Understand the potentials of blockchain as well as its volatility
06
Try to aim for data interoperability

VeChain

VeChain is a smart contract platform focused on providing supply chain management solutions for enterprises and integrating with Internet of Things (IoT) devices to facilitate the process.

VeChain is a multi-purpose enterprise blockchain for improving business operations and product tracking.

VET

VeChain
VeChain blockchain development started in 2015 as a modified fork of Ethereum with a design focus on Internet of Things (IoT) and supply chain management. To date, VeChain has expanded their focus to multi-purpose functionality with customizable support for a range of enterprise uses. VeChain core developers optimize for on-chain governance, low transactions fees, interoperability with non-blockchain technology, and regulatory compliance.

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Beverly Hills, CA