Blockchain is among the key issues for supply chain managers, according to software company SAP and cited by Supply Chain Management Review.
Richard Howells, vice president of solutions management and digital supply chain for SAP, is among the leaders who sees a potential for blockchain.
“Blockchain, along with other technologies such as IoT, predictive analytics, and machine learning, has the potential to manage assets from the design of the product, through manufacturing and throughout its active life. [It also keeps] a secure, digital twin that can be tracked and analyzed for the complete history of that asset,” he told SCMR.
Within complex global supply chains, blockchain has various use cases, Mr. Howells said. The technology could be leveraged to save the cost of trade related to documents and administration, which amounts to 20 percent of the total transportation cost.
Through blockchain, supply chain managers could digitize the shipping process to reduce the paperwork, streamline cross boarder movements and reduce fraud and errors, Mr. Howells said.
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