The main reason for classical supply chain inefficiency is the lack of transparency and reliable reporting. Many companies suffer from the lack of visibility regarding the entire supply chain of their products, and hence lose an immediate competitive advantage over competitors in their industries.
In the traditional supply chain models, the information about an entity is not fully transparent to others, which leads to inaccurate reports and a lack of interoperability. Emails and printed documents provide certain information, but still can’t contain fully detailed visibility and traceability information since the products across the entire supply chain are hard to trace. It is almost impossible for the consumer to know the true value of the product they purchased.
Since the blockchain is a transparent, immutable, and secure decentralized system...
