Question
Analyse the role of Blockchain technology in SCM. How does it enhance transparency and traceability in global retail operations?
Answer :
Word Count : 613
Blockchain technology has emerged as a transformative innovation in Supply Chain Management (SCM), particularly in the retail sector where products move through multiple suppliers, manufacturers, logistics providers, warehouses, distributors, and retailers before reaching consumers. Traditional supply chains often suffer from poor visibility, fragmented information, delays in communication, fraud, and counterfeit products. Blockchain addresses these challenges by creating a decentralized, secure, and immutable digital ledger that records every transaction across the supply chain. Each participant has access to the same verified information, reducing dependency on a single authority and improving coordination among stakeholders. One of the most significant contributions of blockchain in SCM _______ __________ ______ _____ _________ ____ __________ _____.
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Blockchain technology has emerged as a transformative innovation in Supply Chain Management (SCM), particularly in the retail sector where products move through multiple suppliers, manufacturers, logistics providers, warehouses, distributors, and retailers before reaching consumers. Traditional supply chains often suffer from poor visibility, fragmented information, delays in communication, fraud, and counterfeit products. Blockchain addresses these challenges by creating a decentralized, secure, and immutable digital ledger that records every transaction across the supply chain. Each participant has access to the same verified information, reducing dependency on a single authority and improving coordination among stakeholders. One of the most significant contributions of blockchain in SCM _______ __________ ______ _____ _________ ____ __________ _____.
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