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Product provenance, Authenticity & Inventory control with blockchain. 通过区块链保证产品的来源,真实性和库存控制。

Easily track and verify a product’s journey from origin to destination with decentralised ledger entries. 分散的分类帐条目可轻松跟踪和验证产品从始发地到目的地的旅程。

Discrepancies in inventory stock. Unable to track stock movement or pinpoint it’s exact location. Rampant copying of brand trademarks.

With the advent of Blockchain technology, these issues that have bugged the retail industry for decades may quickly be a thing of the past.

Blockchain for Retail

Blockchain technology ensures that data is transparent, decentralised and immutable. Every transaction or operation on the network is stored and available for all parties to access.

Details such as what was added and by whom are recorded in chronological order of each action.this reduces fraud, errors, and the need for third parties to validate the data. This transparency and reliability empower businesses with more accurate data to optimise decisions on production, efficiency, and brand assets.

Transparent Supply Chain

The journey of the product from the supply origin is long, and the product may change hands a few times before arriving at its retail point.

Currently, the most common practice for keeping records is by manual input. There may be complications in paperwork and record entries when the product changes hands, is repackaged, labelled differently for various markets, passes through a complex supply chain, or is apportioned for storage at various locations.

When data and information about products are entered in the blockchain, suppliers and merchants can trace the product’s origin, quantity, journey, and other relevant information on the transparent ledger. This increases efficiency, reduces identification lag time, ambiguity of product information.

For the consumer, this transparency allows them to know the origin of the products that they are purchasing, from both an ethical and value-based standpoint.

Fraud Prevention

Since data stored on the blockchain is immutable, the transparent ledger allows companies to certify items on the chain. This makes it impossible to tamper or alter the products once they are recorded on the chain. This is effective against counterfeits and fraud.

Retailers can also use Blockchain technology to provide customers with indisputable proof of the origin and authenticity of their products throughout the supply chain. All these actions will provide customers with assurance about the product’s authenticity.

Taking Stock

Due to its transparent nature, blockchain provides companies with a very clear overview of inventory processes. Thus, duplicate processes can be eliminated without affecting security or data accuracy. In this way, companies are able to perform stock takes with accuracy, lower costs, remove middlemen in the supply chain, prevent inventory theft, and reduce the paper trail.

Retail Companies Using Blockchain

The De Beers Group uses blockchain to track their gems from the mining stage to the hands of the consumer. The system covers diamonds from 5 carats up. This reduces the risk of fraud.

Mars Food uses blockchain to share details of its rice supply chain from farm to table.

Walmart tracks product provenance across its entire supply chain, from source to destination, with blockchain.

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