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Building a better Supply Chain through Blockchain
Blockchain can provide increased supply chain transparency but it provides multiple benefits. These benefits can be split into primary & secondary.
Primary:
Increase traceability of materials within the supply chain to ensure corporate standards are met
Lower losses from counterfeit market and therefore provide authenticity of product to consumers to build brand value
Improve visibility & compliance
Reduce paperwork and administrative costs through digitalisation
Secondary:
Strengthen corporate reputation through providing transparency of materials used in products
Improve credibility and trust of data
Reduce public relations risks from Supply Chain malpractice
Enhances engagement with multiple stakeholders within the Supply Chain
