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As blockchain started to revamp and disrupt many industries, it becomes the most profitable remedy for industry challenges. There are more than 20+ industries that are gonna transform with blockchain technology, but, among other industries, the supply chain industry is grabbing more use cases, as the entire system involves a lot of traceability and transparency issues. We have already discussed the concept of blockchain in supply chain and logistics in our previous article. Now we are going to explore what is blockchain supply chain development, What are the roles of blockchain in the supply chain, Blockchain Solutions For Supply Chain, Blockchain Use cases in supply chain, and why choose bitdeal for blockchain supply chain development.
Developing, Testing and Deploying a custom private blockchain application separately for individual supply chain industry on any blockchain technology like hyper ledger, ethereum, Hashgraph, R3Cords, and EOS, etc. is known as Blockchain Supply Chain Development. This supply chain blockchain development services are now famous among blockchain companies.
We bitdeal, understands the demand for blockchain supply chain development and started to provide the best possible blockchain development solutions for supply chain industry and also can leverage blockchain technology for various supply chain models like fast chain, continuous chain, efficient chain, agile and more.
Supply chain is the process of distributing or supplying products, services or goods to the end customers. Describing the entire process may be easy, but there are “N” number of chained process. Delivering a product from manufacturer to the customer involves a lot of interlinked processes, and finally the good will be delivered to the end-user by passing it via multiple intermediate hands, like suppliers, manufacturers,distributors, Retailers, transport agencies, local distributor, delivery boy and finally the customer.
Due to the involvement of multiple intermediaries, there would be a high risk of maintaining the product details, customer details, product safety, Costs, transparency in tracking, and delivering on time. You may think the existing supply chain system almost seems to work properly, then why need blockchain? Yes, I accept almost 70% supply chain systems working properly but with high risks involved and are investing high costs to reduce those risks. By implementing blockchain in supply chain we can reduce those risks, and can eliminate the cost of maintenance.
Supply chain has a lot of derivatives and models. Before seeing the challenges in supply chain, Let's have a quick view of Supply Chain types and models.
Continuous flow model
When a business or manufacturers repeatedly produces the same kind of goods or product then it will be referred to be the continuous flow model.
When a business or manufacturers produces different types of goods based on the trends then that will be referred to as the fast chain model.
Preferred when the market is a highly competitive one.
No matter what kind of supply chain it is, either it may be a ecommerce supply chain, food supply chain or whatever. The below are the most common risks and challenges faced by supply Chain industry.
Bringing blockchain technology in supply chain will draw us a secured and integrated way to maintain the details of the goods, and other information under a distributed decentralized ledger.
One of the most notable security features of blockchain is, once the data is stored, then it can’t be changed or forged by anyone. This immense feature of blockchain will bring more flexible functionality and data maintenance for supply chain. With blockchain we can reduce the cost of setting up inventory management. Moreover, blockchain bring more authenticity to a particular product or good by providing a unique identity number.
source : 101blockchains.com
As the blockchain waves started to affect every corner, many businesses already started to incorporate its use cases. Customers are also become more educated and are expecting quality services on time. This becomes the most challenging one for manufacturers and suppliers in the supply chain industry. Also the competition between manufacturers getting increased every day. So, to grab customer attention to your brand and to provide quality services, it becomes very important to adept blockchain technology for your business.
By incorporating blockchain and by developing private blockchain for your manufacturing business. You can meet your business goals effectively in the future.
We undergo various blockchain technologies like ethereum, hashgraph, R3, Hyperledger to create a custom private blockchain for supply chain also process agile methodology to find the flaws, rectify the issues, streamline the process flow and to deploy private supply chain blockchain application for your retail, manufacturing or goods selling business.
We have a strong portfolio in blockchain development services, with 120+ expert blockchain developers bitdeal team has completed more than 50+ successful blockchain projects and currently having 49+ blockchain projects on the queue. We are ready to accommodate the right blockchain solution at any time. Feel free to reach and we are ready to take any risks in fulfilling your goals on blockchain development.
Hi this is Sam, Working as Technology advisor and blogger at bitdeal. Having 4+ years of deep understanding and experience in cryptocurrency trading industry. I keep on hunting the new trends and technologies that are related to crypto's as well as blockchain Industry. Stay tuned with me at bitdeal, to get interesting updates regarding bitcoin, cryptocurrencies and other emerging blockchain technologies
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