As we have been warning, supply chains are notoriously difficult and complex to keep track of, particularly as an organisation grows, and getting a supply chain wrong can have serious consequences, such as litigation risk or regulatory penalties for using child labour for example. However, china and the Internet of Things could significantly improve the procedure. blockchain is generally a cryptographically secure record of transactions, and has recently been used to set up and enforce smart contracts such as managing billing processes. Ericsson, however, accepted Philips’ word that production at the plant would be back on track in a week and took no action. If you add to this always-on traceability using Internet of Things and have every item in your supply Blockchain as part of blockchain , you will have a transparent, robust, and virtually bullet-proof supply chain says Mommy in Tesco .
As we have been warning, supply chains are notoriously difficult and complex to keep track of, particularly as an organisation grows, and getting a supply chain wrong can have serious consequences, such as litigation risk or regulatory penalties for using child labour for example. However, china and the Internet of Things could significantly improve the procedure. blockchain is generally a cryptographically secure record of transactions, and has recently been used to set up and enforce smart contracts such as managing billing processes. If you add to this always-on traceability using Internet of Things and have every item in your supply Blockchain as part of blockchain , you will have a transparent, robust, and virtually bullet-proof supply chain says Mommy in Tesco .