Integrated Supply Chain Automation using Blockchain

Abstract

A Blockchain is a shared ledger distributed across a business network. Blockchain is creating extraordinary opportunities for businesses to come together in new ways such as creating new values, optimize ecosystems and reduce risk. Using this Blockchain virtually anything of value can be tracked and traded, without requiring a central point of control.Blockchain is disrupting the supply chain industry the way they Technology are currently operating, in terms of overcoming issues with their operating layer, Document layer and Messaging layer.One of the objectives of the study was to identify the relevant blockchain use cases that can address the current pain points of various participants in the integrated supply chain process and improve the current operational and technical environment. Supply chain costs can typically amount to 70% and holds the most levers for optimization. Gaining effective visibility and insights into the operations delivers significant and sustainable benefits. The assessment methodology focused around existing processes, technology & supply chain participant roles to establish common workflows across different participants, understanding of client’s pain points, operational inefficiencies and technology maturity. Post which came up with an "Industry Circle" to clearly articulate participants and their respective data exchange patterns to recommend optimizations. Supply and replenishment patterns become long term strategies rather than short term operational tactics. With Blockchain enabled supply chain, bring in value in terms of full visibility, transparency, reduced time, security in the entire network (for example: components can be tracked from their manufacturing to finished product) and with Smart Contracts, SLAs executed automatically.