How does blockchain work in the supply chain and logistics industry?

Blockchain is a booming technology that provides the transformation of every industry when implemented. This blockchain technology proves to be the rescuer of supply chain and logistics from the above-mentioned challenges.

Blockchain in supply chain and logistics can provide better processing of SCM and helps in reaching the right customers with the right products/services at the right time. There are many supply chain and logistics industry that has been implemented blockchain technology for their betterment.

Recent examples of Blockchain in supply chains

Let us look after some supply chain industry that implemented blockchain technology in their process.

1. BHP Billiton, the world's largest mining organization announced its use of blockchain for better tracking and recording data throughout the mining process.
2. Walmart is using blockchain to keep track of its food and its sources from China and records the origin of each piece of meat, processed, stored and its sell-by-date.
3. Other big corporates such as Dole, Unilever, Nestle also use blockchain for similar purposes.

Benefits of Using Blockchain In Supply Chain and Logistics

Listed below are some of the benefits of using blockchain technology
1. Perfect tracking of Production & Shiping of goods.
2. Faster tracking of Goods through Customs.
3. Easy Verification of Product Source
4. Reduces Fraud & Counterfeit in delivery.

To know more about Blockchain in Supply chain and logistics, have a look at the blog : How Blockchain Can Transform Supplychain And Logistics ?