What is blockchain technology used for in supply chain management? 🔊
Blockchain technology is used in supply chain management to enhance transparency, traceability, and security of transactions throughout the supply chain. It creates a decentralized ledger that records every transaction in a way that is immutable and verifiable. This ensures that all parties have access to the same information, reducing fraud and errors. Furthermore, blockchain enables real-time tracking of goods, improving efficiency and trust among suppliers, manufacturers, and consumers.
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