Practically every product that reaches an end-user represents a cumulative effort, involving the physical flow of goods and materials, and information flow. This requires the involvement of a supply chain that could take the form of a product-based supply chain, or service-based supply chain. In the product-based supply chain, products are moved across the supply chain to make them available to the customers, while in the service-based supply chain, services come together to offer an overall customer service, as opposed to the finished products.
As blockchain is gaining adoption, large corporations and SMBs are exploring its use outside of the financial services industry, such as supply chains. Blockchain-driven supply chain innovations have the potential to deliver tremendous business value, increasing the transparency of the supply chain, reducing risks, and the overall efficiency of supply chain. A blockchain makes the global supply chain more efficient by allowing companies to complete transactions directly, and without the involvement of any third parties.
An efficient supply chain is important for the fulfilment of customer orders by a company. Effective supply chain management minimizes costs, and wastage of time and production cycle. With efficient supply chain management, companies run the risk of losing customers, and also the competitive edge.
Supply chains are the principal driver of growth
Supply chains can no longer be just an efficient makers and movers of goods, they have now become the principal driver of growth. Resilience of the blockchain is crucial so that it can maintain the ongoing disruptions. Sustainability is another important factor for a supply chain so that it can address the concerns of investors, board members, and the regulators.
A supply chain blockchain can help participants record the location, quality, certification, price, and other details of the movement of products more effectively to manage a supply chain. The immutable and transparent availability of the information and data within the blockchain increases the traceability of the material supply chain, improves visibility and compliance, and lowers losses from the counterfeits and gray market. This approach by Group50’s supply chain consultants creates an immutable chain of custody which is applicable to a wide range of use cases.
Driving transformational change to businesses
Group50 consulting firm recognizes the importance of blockchain for what it is – the disruptive technology that will drive transformational change in a business, both internally and externally. Group50’s permission-based blockchain consultants have created Scioebc plug-and-play permission-based blockchain solution which is built on an IoT platform that gives you the ability to control who has access to your critical data through smart contracts.
Group50’s permission-based blockchain consultants help in building a resilient supply chain that uses smart contracts to automatically trigger when pre-defined business conditions are met. This gives near real-time visibility into the operations, and provides the operators with the ability to take action earlier should an exception arise. Integrated payment solutions by supply chain blockchain consultants reduce the time between ordering and payment processing, ensuring timely delivery of the products.
Permission-based blockchain consultants for your businesses
Group50’s supply chain blockchain consultants have provided their consulting services for a range of business types that have resulted in reduced costs due to automated transactions, and the elimination of intermediaries. Group50’s permission-based blockchain consultants follow a specific methodology for education, planning the use cases, and creating a technology roadmap for its implementation. Group50’s expertise in business process design, organizational design and digital technology, with its unique Scioebc permission-based blockchain, puts it in a unique position to be your permission-based blockchain consultants for adopting and managing this transformative technology that is both sustainable and scalable.
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