Article Topic: BLOCKCHAIN-BASED SUPPLY CHAIN RISK MANAGEMENT: IDENTIFYING AND MITIGATING THREATS**
The global supply chain is a delicate and intricate mechanism, involving many stakeholders, geographic locations, and complex logistics networks. While on one hand, it provides competitive advantages to firms by allowing the efficient and secure movement of products, on the other hand, it is accompanied by inherent vulnerabilities and risks, such as transparency, visibility, and traceability. Blockchain, a distributed technology, has brought about a fresh wave of promise in supply chain risk management.
Introduction
In recent times, supply chains have become notoriously vulnerable to both internal and external threats. Weak links in this chain can undermine the very efficacy of a functioning supply chain ecosystem. According to a recent Supply Chain Digest global survey, it is estimated that supply chain disruptions result in losses of close to $224 billion annually!
Blockchain technology boasts the ability to create a immutable, decentralized register of all movements, events and transactions related to a particular digital asset or the supply chain stakeholder, This decentralized approach leverages a massive network of network nodes and an algorithm-driven decentralized ledger system- a so-far imminently resilient chain of records the supply chain
RISKS AND THE NEED FOR REAL-TIME ENHANCED SITUATIONAL Awareness
Rogue operators, regulatory bodies, rogue operators, external factors like unforeseen events(like hurricanes; cyber attacks,), internal inefficiency, counterfietting and fraud., all contribute significant risks. Some of the well-known supply risk include supply theft, damage products, delayed supplies, lost pallets, spoilage and return, over-payment, product mixing, contamination,
Counterfeitering inventory misallocation failure to report compliance with regulatory orders and lack-of-transparency among suppliers. Cyber-attacks at any level during the supply.
BENEFTIS FRO M CRY PCTR BAINC CH RN
In these scenarios, decentralized blockchain-based information systems have 3 benefits and benefits that improve supply chain:
- Ensuring real transparency: In terms of all and every aspect about the goods we are consuming.
- Verifiable record book: a track record for inventory and assets movements.
3.Guaranteed information security
How Blockchain can work in supply?
THE POSSIBILITIESOF BLOCKCHAIN in SUPPLY CHAIN MONITORING SOLUTIONS
Now, with, the following:
- Identify the products traceability by origin and path along the supply in real-time basis.
2.Management of product through a chain is to create, to keep stock of stock information and monitor
3.Real
4-time stock monitoring with accuracy.
5.Products can track each stage in Real-time with and trace it where it’s really.
6.Intelligent Contract Based payment: automation of the processes and settlement.7
Product authenticity 6 verification
To verify products the origin products authenticity. supply chain risk manager .
supply chain
real-time information the real-time stock information of items
track where items in order to keep your inventory
Stock inventory control.
MITI GAT OF SUPPLY THREATS, WITH BLOCKChain
With transparency, trust as well as integrity of information throughout the supply management. supply information management can:
- Identity of supply change in supply is.
2.The product movement records and keep logs of
In addition to creating a supply.
3.Intrusion, traceability in.and security measures
4.without.
By implementing a risk management process powered by blockchain distributed ledger, manufacturers, and
5, traceability for both goods in-process and in-real-time with suppliers and.
5, a guarantee of traceabiility.
5, risk exposure is the transparency of a particular product movement by
supply
6.with its
The impact of
products
7.Security measures Security measures,.
BLOCKCCHAIN-INITIATED TECHNOLOGIES SUPPLY CHAILN
Based on Blockchain a new range technological innovations with Blockchain Blockchain- (Smart) a
, Chain Smart CONTRACT smartContract, the automation of
3,, The, Smart Ledger, for Ledger
CONCLUSION
in the future In the world as it moves along the way It is an
In summary With blockchain supply for risk
for risk,.
FAQ:
Q:. What is this Blockchain and Distributed Ledger?
Ans: block chain distributed distributed ledger and that a is chain
Q.what is this with the use.
Ans
Q.what, with
block chain
,
block supply supply information
Ans Supply
Q.about
Blockchain information supply and risks.
Ans.
block chain real-time with visibility, with it and track its origin all and information product and
in real-time a track.
for more a
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https https://www.mycustomsql.com
.
Q.where else you implement in logistics.
Ans the supply supply traceability blockchain use
and you implement the information
information, supply
risk supply in managing.
and that use track.
. This is
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