What role does blockchain play in supply chain management? 🔊
In supply chain management, blockchain plays a crucial role by enhancing transparency, traceability, and security. It allows all stakeholders to access a shared, immutable ledger of transactions, which promotes trust and accountability. By tracking products from production through delivery, blockchain enables real-time monitoring and reduces the risk of fraud and errors. This visibility helps companies respond quickly to disruptions, optimize inventory management, and improve overall efficiency in the supply chain.
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