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Scope of Blockchain in Supply Chain Management
Become a member of our mailing list for the latest articles, news, and exclusive insights. Thank you for subscribing with us. We sent you an email regarding this. The blockchain is a technology in which investors from all industries find the potential to overcome current challenges such as security, transparency, and storage, and similarly, supply chain management also looks up to it. Theoretically, the technology seems to be of great use with the fundamental benefits it brings with itself which have been outlined below. The distributed ledger of the blockchain permits each of the supply chain partners to access the transactions recorded in the chain enhancing the trustability and auditing ability of the supply chain. Also, validation of the supply chain and goods becomes easier for vendors and customers because of blockchain's transparency. The immutability feature does not allow any changes in data stored making blockchain a reliable storage.

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