How does blockchain support transparent supply chain management? 🔊
Blockchain supports transparent supply chain management by providing a decentralized ledger that tracks and verifies transactions across the supply chain. Every participant can access the same version of the ledger, ensuring that data related to the movement of goods—from production to delivery—is accurate and tamper-proof. This transparency allows stakeholders to monitor products throughout their journey, enhancing trust and accountability. Additionally, blockchain can streamline processes such as compliance and auditing, reducing costs and increasing operational efficiency in supply chain management.
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