Question
Analyse the role of Blockchain technology in SCM. How does it enhance transparency and traceability in global retail operations?
Answer :
Word Count : 529
Blockchain technology is transforming supply chain management (SCM) in retail by introducing a decentralized, secure, and immutable system for recording transactions. In global retail operations, where multiple stakeholders such as suppliers, manufacturers, distributors, and retailers interact across geographical boundaries, maintaining transparency and traceability has traditionally been a complex challenge. Blockchain addresses these issues by creating a shared digital ledger that records every transaction in a transparent and tamper-proof manner. One of the primary roles of blockchain in SCM is enhancing transparency. In traditional supply chains, information is often _____ ________ __________ _______ ______ _______ ____ __________ ____ _____.
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Blockchain technology is transforming supply chain management (SCM) in retail by introducing a decentralized, secure, and immutable system for recording transactions. In global retail operations, where multiple stakeholders such as suppliers, manufacturers, distributors, and retailers interact across geographical boundaries, maintaining transparency and traceability has traditionally been a complex challenge. Blockchain addresses these issues by creating a shared digital ledger that records every transaction in a transparent and tamper-proof manner. One of the primary roles of blockchain in SCM is enhancing transparency. In traditional supply chains, information is often _____ ________ __________ _______ ______ _______ ____ __________ ____ _____.
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