AMANKnowledge Contributor
How does the use of blockchain in supply chain management improve transparency and efficiency?
How does the use of blockchain in supply chain management improve transparency and efficiency?
Blockchain technology improves transparency and efficiency in supply chain management by providing a decentralized, immutable ledger of transactions. Each step in the supply chain can be recorded on the blockchain, creating a verifiable and transparent record of the movement of goods. This enhances traceability, reduces fraud, and allows for real-time tracking of products, leading to more efficient and reliable supply chain operations.