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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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How Blockchain Can Help Businesses Respond Quickly to Consumer Demand

Companies tend to be reactive with inventory planning and responding to consumer demand. Even while they could “guess” that demand would spike during the holiday season, they would have no way of knowing how much demand would rise and fall without visibility into their supply chains. This almost always leads to supply and demand imbalances.…

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Industry 4.0 Applications for the Next Generation of Manufacturing

As one of the oldest industries in human history, manufacturing is the most vital component of modern day commerce. With the advances in cyber-physical systems, traditional manufacturing techniques and old business models are being phased out. Part of Industry 4.0 is a new ecosystem harnessing new technologies to create smarter factories that revolutionize the manufacturing…

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How Blockchain-Based Manufacturing Protocols Increase End-to-End Visibility

Lack of Supply Chain Visibility Costs Manufacturers Millions Without seeing how products, parts, and materials move through the supply chain in real-time, small and seemingly innocuous errors may potentially compound into disastrous mistakes as they propagate through the supply chain.   One of the first signs of something going wrong often comes in the form…

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ROI Dialog – Welcome to Cryptonia

Blockchain is here to stay because it offers many advantages to supply chain management and end-to-end logistics. For one, data stored in a blockchain is tamper-proof and thus cannot be forged. Smart contracts, one feature of blockchain technology, can automatically execute the process steps in a supply chain. From raw materials to finished goods at…

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