From processing steps and product quality checks to payments and passport exchanges, blockchain solutions bring advantages to the supply chain along a development continuum that begins with end-to-end traceability. Simple transactions such as processing and inbound/outbound movements are the only starting requirements for a basic solution.
From there, new levels of digital collaboration can be achieved. Think of automated O2C/P2P flows based on smart contracts, or the use of sensor data from Internet of Things solutions, such as weighing bridges and temperature control systems. Even further, forecasting could be done in a collaborative way across the supply chain, keeping the bullwhip effect under control. By unlocking advanced technologies such as analytics, trend analysis and artificial intelligence, there is no telling what additional opportunities the platform could offer.
If this rich supply chain data is shared among all participants, it could lead to the holistic optimization of all supply chain processes from start to finish, to the benefit of all partners.