[BLOG] Connecting supply chain records: Corporations and their affiliated companies.
Between the corporations and their affiliated companies, the problems of disconnected supply chain system start to appear more often. In the current supply chain system, the information between the corporations and their affiliated companies are disconnected, so it is difficult to identify the problems of the supply chain processes.
When a large corporation manufactures a product, we must think about whether the company assembles or manufactures the entire product. It does not. For example, to create a smart phone from Samsung, the company will use parts produced from its affiliated partners, in other words, the parts produced from small and mid-sized companies. So, what if there is a problem between the parts produced from affiliated companies? In the existing supply chain system, it is difficult to identify where a problem occurred. Accordingly, it is difficult to find out the responsible party for the problem and there is a low possibly to remedy the situation.
Usually, large companies and corporations develop and build their own supply chain systems. However, the supply chain systems built and developed by large corporations is specifically designed for their needs, so it lacks the scalability; because of this, the SMEs lack IT infrastructure and cannot risk making large investments to build supply chain systems of their own, so in reality, it is very difficult for them to track the supply chain process. In following, since the affiliated companies lack such supply chain system, it is difficult for them to verify their distribution details. In other words, the supply chain records of products that are produced by the large corporation is disconnected. Therefore, let’s think about whether there is a way to connect the disconnected supply chain.
Accordingly, TEMCO provides a solution for such problems. TEMCO connects disconnected supply chain records all in one and share entire supply chain process transparently. In a case of affiliated companies, without an initial fee, all they need to cover is the smart contract execution fee. In this situation, the SMEs do not need to make large initial investments on a giant infrastructure to utilize connected supply chain system. Also, for large corporations, they can transparently track supply chain records of the affiliated companies and identify the responsible source, if there is a problem with manufactured parts. At the end, it is beneficial solution for both large corporations and SMEs.
TEMCO’s integrated supply chain system provides revolutionary solution for large corporations and SMEs. TEMCO’s innovative blockchain technology is playing a great role in the supply chain industry.
TEMCO: Innovative Supply Chain Data and E-Commerce Solution through Blockchain and Smart Contract Technology.
▶TEMCO Chatroom: https://t.me/temcolabs
▶TEMCO Official Website: https://temco.io
