“The Future of Supply Chain Management: How Blockchain Technology is Transforming the Industry

Supply chain management is one of the industries that is ripe for disruption by blockchain technology. The transparency and immutability of blockchain can greatly improve the traceability and accountability of supply chain operations.

One real-world example of this is Walmart, which has been working with IBM to develop a blockchain-based system for tracking the origin of pork in China. The system allows Walmart to trace the origin of pork products in seconds, whereas it used to take days or even weeks using traditional methods. This not only improves food safety, but also allows for more efficient recalls in case of contamination. (Reference: https://one.walmart.com/content/globaltechindia/en_in/Tech-insights/blog/Blockchain-in-the-food-supply-chain.html#:~:text=Walmart%2C%20along%20with%20JD%2C%20IBM,consortium%20to%20enhance%20food%20safety.)

Another example is Maersk, the Danish shipping giant, which has developed a blockchain-based platform for tracking the movement of cargo containers. The platform, called TradeLens, allows all parties involved in the supply chain to access real-time…