The overall challenge
Visibility in the supply chain is an ever-growing challenge for the supply chain. With the growing amount of data that has to be shared by a supply chain, we notice that traditional centralized technology can no longer manage this. We cover five large challenges and show you how blockchain will differentiate itself.
Five challenges blockchain can solve
from challenge to the current effect:
- Substandard suppliers / customer relationships and immature processes; Which results in disorganization between different links in the supply chain
- Ineffective forecasting of supply and demand; That rely on outdated supply and demand information to make predictions, which can result in major supply chain disruptions
- Mediocre production organization; With machines that turn on and off at less than optimal times, resulting in idle or overtime
- Order batching; Gathering supply and demand before an order is sent to the supplier can lead to unfavourable irregularities
- Price fluctuations; The lack of an organization-wide pricing strategy (with arbitrary offers and discounts) can wreak havoc on regular buying patterns and cause uneven production and distorted supply and demand information
What roles does blockchain play in solving these challenges?
As a secure digitally shared ledger, the blockchain component can act as a unified data source providing real-time access to chain information and updating it seamlessly and automatically across enterprise systems. In essence, the added value of blockchain lies in;
Providing a single unified data source; instead of multiple data silos
Flexible assets as collateral; instead of underutilization of capital
Instant, real-time allocation of resources; instead of reactive
Four concrete solutions Unchain can offer in solving these challenges
We can dramatically speed up transactions with our solutions. By reducing the time it takes to receive confirmations from multiple entities; providing verified, reliable information when needed; enable some degree of transaction logic automation through “smart contracts”.
We offer Unified access to several information sources for different decision-makers. Unlike other solutions (mobile apps, cloud computing, proprietary network systems), blockchain has a lower cost of adding new participants to the system. Additionally, our solutions that are powered by blockchain come with better data encryption and record validation mechanisms to ensure data accuracy and consistency.
Improve collaboration between the supply chain participants through digital assets. We can build verifiable digital claims corresponding to various production, inventory, and financial assets. These assets can be seamlessly shared, traded, and exchanged between the network participants.
With the power of blockchain, we enable selective information aggregation. Where only the information required to improve supply chain efficiency is shared, while sensitive data (such as customer identities) is not.
