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Blockchain in the Supply Chain Market

Blockchain is the latest technology set to transform the supply chain industry, particularly because of the improvements to the supply chain process that it promises. It offers a solution to transparent supply chain monitoring.

What is Blockchain?

Blockchain is a shared digital ledger that creates one space to collect and store all documents relating to the shipment.  It enables the tracking of all transactions between the involved companies, including where the asset is and what state it’s in. Blockchain allows you to follow the supply chain process and ensure that everything that happens at each point in the chain is accurately and chronologically recorded.

How Will Blockchain Benefit the Supply Chain?

Removal of the Paper Trail:

Blockchain provides a means to have all documents in one place, including purchase orders, shipment details and trade documentation. This eliminates the chance of paperwork getting misplaced and shipments being delayed.

Automation:

Automatic smart contracts can be set up so that payments, shipment documents and more can be automatically generated – making for faster administration.

Sharing:

All information about the process, delivery, etc can be seen by all companies involved, removing multiple versions of a document being required and ensuring complete transparency to the chain. This significantly reduces the chance of errors.

Recording:

Monitoring the transfer of products between shipping companies and tracking where the product is on its journey, including the condition of the asset with data loggers. This data increases consumer trust.

Transparent Data Collection

The idea behind blockchain in the transportation and supply chain market is complete transparency. All documentation and data that is recorded or uploaded can’t be tampered with; it’s public and secure.

We understand how important transparency, accurate data and logistics tracking is for businesses, particularly for pharmaceutical validation. Our data loggers have an accuracy range of < +/- 0.5°C between -5 and +30°C and all data is uploaded to our Cloud-based network for easy visibility and updates. The Cloud software delivers notifications on the integrity, location and temperature collected in your global multi-sensor network to alert you of any problems in real-time, enabling you to respond to any issues with immediacy.

Blockchain in the supply chain market is set to expand, and it’s something that companies like ours will be staying on top of to follow the potential of this new technology with data loggers in our industry.

For supply chain monitoring; including temperature monitoring and location tracking, Loggershop provide solutions with our supply chain data loggers. Contact us to discuss your project on 01929 459459 or use our contact form.

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