How can blockchain help in improving supply chain management?

In the past few years, priorities in supply chains and procurement have shifted dramatically, from rapidly increasing sustainability in their utility grids to doubling their spend optimization.While these are short-term shifts in response to the business’s growing uncertainty, two themes remain relevant and will receive more attention in the medium and long term, sustainability and diversity.

Supply chain management with procurement can no longer be ignored because their impact on businesses goes way beyond the pandemic.Key to sustainability:Sustainability is one of the crucial topics among the business leaders and is now on the agenda of every company and under increasing pressure from consumers and investors alike to track their environmental impact.

To implement this program, companies need to focus on sustainable public procurement policies.Here’s how:Make Sustainable Procurement your #1 Goal:Procurement leaders need to make decisions based not only on cost, but also on how those decisions impact their communities, environment, and social standing.

They need to incorporate socio-economic, environmental, and ethical dimensions into public procurement and processes and fulfill their corporate social responsibilities.

To know more - https://katalysttech.com/blog/embracing-a-sustainable-procurement-strategy/

The Rwandan Government has formally launched the new African Centre of Excellence for Sustainable Cooling and Cold Chain (ACES) that is hosted in-country by the University of Rwanda.

At the inception meeting, a high-level cross-department team was established to lead the Centre’s development.In collaboration with the core technical partners - the University of Birmingham and UN Environment Programme’s United for Efficiency (UNEP U4E) - progress in setting up the centre has quickened with the official endorsement of planned activities.

ACES will help get farmers’ produce to market quickly and efficiently - reducing food waste, boosting profits and creating jobs as well as look to improve cold-chains for vaccines and health, now recognised globally as a key challenge for Covid-19 immunisation.

For the notorious chassis shortages leading to congestion at ports of Los Angeles and Long Beach, Intermodal Equipment Providers and truckers blame bottlenecks at marine terminal gates.

They want ports to make it mandatory for ocean carriers to exchange advance shipment information, which would increase cargo velocity across the supply chain.https://materialhandlingsystems.weebly.com/blog/ports-of-la-and-long-beach-challenging-supply-chain-essentials-at-west-coast 

The founders take great pride when called upon to provide a private logistic service for high value and expedited shipments.https://357company.com/ 

Integrate a blockchain-based supply chain management software into your business with the right solutions from a supply chain management software company!

If your company is in the distribution business, the distribution software functionality of an ERP will be of great interest to you.

While this is a standard functionality for ERPs, you can find that it is not robust enough especially if your distribution practice is complex.Choosing the right application can help you solve all your problems and introduce greater efficiency in the business.

Let us see about the major problems and solutions for distribution firms.Aligning with demandAs a distributor, the main challenge that you face is aligning all your business resources towards the demand that you have.

You need great agility in your company to scale your operations up to meet the increasing demand or scale down at times when there is a lull in the market.This nimbleness is possible only when all your supply chain partners and managers are empowered when the latest and complete information is available to them at all times.

A web based ERP software solution allows access to this information from anywhere and at any time.

If you are not aware of your inventory status, you cannot make informed purchasing decisions and run a proactive sales operation.When you have multiple store locations it becomes tougher to maintain this visibility over a period of time.Selecting an ERP application that has automated inventory management features with support for multiple inventory locations will help you manage your inventory better.Such an automated environment will be a boon to you if you assemble your products before distributing them as the kitting process is faster and accurate without any material issues.

FedEx Express India vice president for Operations Mohamad Sayegh said that small and medium enterprises (SMEs) are the growth engine of the Indian economy and it is important to connect them with the new solutions and possibilities.https://www.itln.in/smes-are-the-growth-engine-of-our-economy-and-employment-fedex-india-supply-chain

If you own a manufacturing or e-commerce business, undeniably, you must use a supply chain management solution.

You can now develop the next-gen personalized blockchain supply chain Development solutions!

According to market research report on "Supply Chain Management Market by Component (Hardware (Barcode and Barcode Scanners and RFID Tags and Readers), Software, and Services), Deployment Mode (Cloud and On-premises), Organization Size, Vertical, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Supply Chain Management Market size to grow from USD 23.2 billion in 2020 to USD 41.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period.

Demand for greater visibility and transparency in supply chain data and processes, high growth in eCommerce, increasing adoption of cloud supply chain management among SMEs, and enhancing business continuity by minimizing potential failures are major growth factors for the market.

Advances in technologies are making evolution to the supply chain industry and integration of AI capabilities with SCM offerings would provide lucrative opportunities for vendors in the Supply Chain Management Market.

Browse and in-depth TOC on “Supply Chain Management Market”287 – Tables56 - Figures270 - Pages Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=190997554 By component, Software segment to hold the largest market size during the forecast periodSCM software helps in proper planning and management of the entire supply chain by automating processes, such as product development, sourcing, production, and logistics that maximizes the efficiency of business activities.

SCM software is used to manage supplier relationships, control business processes, and execute value chain transactions.

The demand for SCM software is growing due to the increase in shift of enterprises toward SaaS-based technology, rise in online purchases, and improvements in business intelligence.

Blockchain and the Internet of things (IoT) are two recent technological advancements transforming different industries.

Industries are finding Blockchain and IoT two most important strategic technology trends in 2020, According to IDC, 20 percent IoT deployment involve basic levels of blockchain services enabled.

Blockchain is a type of distributed ledger which provides characteristics like traceability, auditability, security, and efficient collaboration.

IoT is a network of smart physical objects and things capable of connecting to that network to send and receive data.

In the following sections, find out key value drivers that the combination of blockchain and IoT provides for contemporary supply chains.

Global Supply Chain FinancingSupply chains involving parties across borders and cross-border transactions require voluminous paperwork and bureaucracy.