While managing and coordinating supply chains, downtimes and costs are always present. One of our clients, a global manufacturer, agreed to utilize a blockchain-based ledger in our project to increase transparency and minimize losses regarding the tracking of every step of their product’s journey.
Financial Services
Blockchain Development
Through this blockchain technology, we established a chain of records of the supply chain from the raw materials point to the end consumer. In our solution, real-time tracking was achieved, a capability that had not been available to stakeholders before.
Evaluated the supply chain network to come up with opportunities for improvement in the supply chain. Targeted data traits for blockchain tracking are defined.
Developed user interfaces for suppliers, manufacturers, consumers, and distributors.
Designed the basic template for tracking with the real-time update functionality.
Created a blockchain that entails a role-based access control mechanism.Built-in IoT input sensors for constant and dynamic data input.
Implemented through a step-by-step strategy throughout the whole supply chain.
Lack of visibility: Additional challenges include Practicality: Inability to monitor items at different process levels. Counterfeit goods: verifying the genuineness of products. Lack of organizational propriety: The miscalculations that emanulate from an organization’s inefficiencies.
Overcoming issues with data input from all participants in the process.
Extension of the solution across different countries.
The mode of transactions increased the transparency among stakeholders. They have been able to track real-time data on the specified product location.
Stakeholders accessed real-time data on product location and condition, ensuring trust.
Counterfeit goods should be reduced by 30%, minimizing financial risks.
Processes streamlined, cutting delays by 25%, and boosting productivity.
Blockchain Consultants
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