Ultimate Guide To Blockchain In Supply Chain
3 February 2020
The business supply chain doesn’t get enough attention from the consumer public.
Supply chain management specifically refers to the business of supervising all the materials, information, and finances for a certain project as its parts, components, and accessories make their way around the ecosystem, from supplier to manufacturer to wholesaler to retailer to consumer.
Challenges to blockchain adoption in supply chain
2. It requires at least some education or technical skill
As a step-change in terms of what a database can accomplish, the blockchain is a rare wholly new category of technology. There’s not much like it that came before it, and there’s no telling where it will take us. But that potentially unlimited promise for the future comes with at least some expense: the time it takes you to gain familiarity or competency with it. Yes, it’s not only possible but probable that some organizations that might benefit from blockchain opportunities are looking the other way because they’re either telling themselves it’s impossible to understand as outsiders, or they’re such technology outsiders that they haven’t even heard the word “blockchain” yet. “You can’t think or talk about the future of supply chain management without going straight to technology,” said Charlie Wilgus, general manager of manufacturing and supply chain executive of Lucas Group. “While the advancements in technology affect every business in some way, the best supply chains will have cutting edge technology at their core. Specific to this is digital analytics and the innovations around robotics and artificial intelligence.”