What is the function of blockchain in supply chain management? 🔊
The function of blockchain in supply chain management is to ensure transparency, security, and traceability of products as they move from suppliers to consumers. By using a decentralized and distributed ledger, each transaction can be recorded in real-time and verified by multiple parties, eliminating fraud and reducing human error. This technology enables stakeholders to track the origin, handling, and journey of goods, ensuring compliance and enhancing trust among consumers, manufacturers, and suppliers.
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