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Blockchain Helps Supply Chain Management Become More Environmentally Sustainable

Blockchain Technology Increases Accountability for All Supply Chain Participants Blockchain technology is emerging as the right solution to solve problems with supply chain transparency or lack thereof. Supply chains are complex global networks of autonomous entities that exchange goods, data, and payments across a continuously evolving business landscape. Given key structural similarities between blockchain technology…

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How Blockchain Can Help Increase Inventory Data Accuracy

Before seeing how blockchain can help increase inventory data accuracy for manufacturers and distributors, we need to first understand how data inaccuracies hurts business and what causes these inaccuracies. How Inventory Data Errors Hurt Business Inventory data accuracy is of utmost importance to the manufacturing industry, warehouse management, and distribution centers in the supply chain.…

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Why Blockchain Is a Great Solution for Order Picking Management

Order picking is when warehouse employees pick items off the shelves to fulfill individual customer orders. Although it sounds simple on the surface, order picking is highly labor-intensive and very costly. Order picking alone accounts for 55% of all operation expenses of a warehouse, making it the most important part of a supply chain process.…

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Why Smart Contracts Are Needed to Coordinate the Process Steps in a Supply Chain

A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer (Source: supplychaincanada.org). In commerce, complex supply chains require sophisticated management mechanisms. In this article, we explore wh smart contracts are needed to simplify the process of managing a supply chain. The Supply Chain Management…

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Obstacles to Warehouse Efficiency in the Manufacturing Industry

In today’s globalized industrial landscape, it is as important as ever for warehouses to be as efficient as possible. However, there are several factors that warehouses struggle with in terms of maximizing their efficiency. In many ways, blockchain technology can help, particularly with boosting inventory accuracy, increasing supply chain visibility, and making manufacturers more responsive…

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Protection of Intellectual Capital and Property Rights

Intellectual capital is the intangible value of a business, covering its people (human capital), the value relating to its relationships (relational capital), and everything that is left when the employees go home (structural capital), of which intellectual property (IP) is but one component. ( Wikipedia). Intellectual property right is a right held by a person or company…

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Using Blockchain to Legally Prove Ownership and Existence of Assets

Any entrepreneur can come up with a great product idea. But does any entrepreneur have the financial resources and legal clout to protect their idea if it does gain traction in a large market? Hardly.   While innovative ideas are a dime and dozen, those that do gain traction get the attention of bigger companies with…

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Asset Traceability and Tracking Using Smart Contracts

Smart contracts have features that can be leveraged for a wide range of vital automated processes. Beside the hundreds of applications of smart contracts, asset traceability is a unique feature of this blockchain technology. We shall explore asset traceability with smart contract deployments for industrial purposes. Blockchain-based Smart contract powered Asset Tracing Blockchain technology has…

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