HOW BLOCKCHAIN WILL TRANSFORM THE SUPPLY CHAIN AND LOGISTICS INDUSTRY

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How Blockchain Will Transform the Supply Chain And Logistics Industry 2 How Blockchain Will Transform the Supply Chain and Logistics Industry The advancement of technology over the last decade has i... mproved the means of how consumers receive goods from suppliers. New modes of supplying commodities are introduced by the day. Many companies have grown and advanced significantly regarding their overall sales, and this is because of the existence of many means of supplying goods to clients. Online activity has expanded globally, which in turn, has led to the advancement in e-commerce. Companies such as Amazon and Alibaba have made good use of buying and selling goods through the online platform. The companies link suppliers and buyers through their websites. Therefore, people from all over the world can interact with each other, and buy and purchase goods without ever having to meet face to face. E-commerce has simplified how business transactions are conducted, but in the last couple of years, there has been the rise of some vital issues which are affecting how sales are made. There has been an increase in the number of counterfeit products that are being sold through the online platforms. Buyers are buying products that are fake, and suppliers are being impersonated by others thus decreasing the value of their product. Issues Facing Supply Chain Management When discussing supply chain management, many issues usually come to mind. The supply chain management industry faces several challenges on a daily basis. For example, some of these problems include globalization, fast-changing m [Show More]

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