Supply Chain comprises of the entire product lifecycle before it reaches a customer. However, supply chains were relatively simple before globalization came into picture.
There have been innovations in each and every part of supply chain which has led to complexity and difficulty in tracking of products.
The products have lost their value and there has been a lack of transparency and unethical practices involved within various chains around the world.
In order to overcome this, Blockchain has been introduced. Blockchain can increase the efficiency and transparency of supply chains, and positively impact everything from warehousing to delivery to payment.