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Blockchain’s Role in Supply Chain Sustainability

Blockchainu2019s Role in Supply Chain Sustainability

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Blockchain’s Role in Supply Chain Sustainability

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  1. BLOCKCHAIN’S ROLE IN SUPPLY BLOCKCHAIN’S ROLE IN SUPPLY CHAIN SUSTAINABILITY CHAIN SUSTAINABILITY Blockchain platform can significantly enhance the sustainability of supply chains through various mechanisms:

  2. Enhanced Transparency and Traceability The capacity of blockchain to offer improved traceability and transparency is one of its biggest advantages. Every transaction that is stored on a blockchain has a timestamp and cannot be changed. In supply chains, where it is essential to follow the flow of commodities from their point of origin to the end user, this functionality is especially helpful.

  3. REDUCTION OF FRAUD AND COUNTERFEITING Reduction of Fraud Fraud and counterfeiting pose serious problems for global supply networks, resulting in large-scale financial losses and harm to one's reputation. The immutable ledger of blockchain technology can lessen these concerns.

  4. EFFICIENT RESOURCE MANAGEMENT Efficient Resource Through the provision of real-time data on resource availability and consumption, blockchain technology resource management. Better inventory control, less waste, and more effective production processes can result from this. helps optimize

  5. Improved Collaboration and Trust Sustainability in supply chains often requires collaboration between multiple stakeholders, including suppliers, manufacturers, distributors, and retailers. Blockchain can facilitate this collaboration by providing a single, transparent source of truth for all participants.

  6. Contact us Nagar,(Mohali) Punjab 140308 91-8448443318 info@lbmsolutions.in www.lbmsolutions.in

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