Blockchain is a relatively new technology, and while it’s full potential is still being explored it has many versatile applications for a range of industries including supply chains. Blockchain technology allows for a verifiable ledger of transactions to be held, maintained, and viewed by all involved parties. This helps companies within a supply chain to verify transactions, report shorts, and keep track of deliveries. Since the ledger is maintained by a network of computers rather than in one centralized location, it is highly secure and nearly impossible to corrupt. Blockchain helps to ensure that everyone has the same up to date information, so no one is ever searching for information when they need it. Blockchain technology also allows for physical activities such as those within a warehouse, to be documented as digital information. It also improves the traceability of products within a supply chain, which increases the information available to customers and improves the ability to ensure product knowledge or safety.
Blockchain technology has many useful applications, especially in the logistics and supply chain industries. Having a verifiable ledger of transactions makes information flow smoothly between parties, and increases the synchronization of the supply chain. The incorruptible nature of the ledger means that information is accurate across the ledger, and no one receives the wrong information. Logistics companies are now beginning to recognize the value of utilizing blockchain within supply chains, ensuring the accuracy of the data transferred between parties. Blockchain adds additional confidence to the supply chains of products with temperature ranges, such as food or medicine, as the products can be accurately and quickly traced throughout their supply chain.
Use our Blockchain feature in combination with features like order management or mobile invoicing to create a complete solution for your supply chain at each step. Our blockchain feature, like all Routeique features, can be used alone or in combination with as many features as your business needs. See what else Routeique can do for you by requesting a demo below.