Blockchain Technology in Supply Chain Management

Blockchain technology in supply chain management enhances transparency and traceability by creating a secure, decentralized digital ledger. Each transaction involves multiple parties and is recorded in a way that cannot be altered retroactively. This means every step—from raw materials to retail—can be tracked, reducing fraud and errors. It provides real-time visibility, helps verify the authenticity of products, and improves accountability among stakeholders. By ensuring that all participants have access to the same information, blockchain fosters trust and efficiency in the supply chain process, ultimately leading to better decision-making and enhanced customer satisfaction.