How Blockchain Enhances Transparency in Supply Chain Management
Advertising and Marketing / by Neha Pardhi / 27 views
Blockchain technology significantly enhances transparency in supply chain management by providing a decentralized and immutable ledger for recording all transactions. Each participant in the supply chain can securely and transparently view the history and status of a product at every stage, from raw material sourcing to final delivery. This traceability helps in reducing fraud, counterfeiting, and discrepancies, ensuring that all stakeholders have access to real-time, verifiable data. Smart contracts further automate and enforce agreements, improving efficiency and trust among partners. Overall, blockchain’s ability to offer a single source of truth fosters greater accountability, compliance, and trust in supply chain operations.
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