Have you ever thought where your smartphone came from, where the parts were manufactured and assembled, or the clothes we buy and the food products we eat? Besides the transport of goods, there are many inter-linked actions which finally result in the end product delivered to us. An inspection, maintenance of these inter-linked elements for the Supply Chain Management.
Supply Chain offers the capability to inspect an end product and trace it back to its roots while providing transparency to the user and assure its authenticity. When we apply the operating philosophy of Blockchain in to Supply Chain Management, we can create a truly transparent global network of different organizations sharing secure data internally through its Smart Contracts mechanism and easy tracking of data in the block chain.
The Traditional way of building a Supply Chain Management application is complex in terms of the application architecture and implementation as there are various parties involved and data transfer between them needs to be secure. Also, there is an overhead cost of duplication of data by all parties involved and keeping them in sync and updated after each transaction. Reconciliation of such transactions takes more time. Transparency of information is also delayed as information needs to be fetched from a specific entity and there can be different governing rules for procuring such information. It can take a single day or more than that if different geographical locations are involved. All this can be solved by adopting Blockchain.
Prolim decided to build a Supply Chain Management Network / Application by adopting the Blockchain implementation due to its benefits of decentralized ledger maintenance and Execution of Smart Contract offering the highest Transparency and Security to all the parties involved while reducing overall cost. We are building a blockchain network for management and tracking of Automotive Metallic Hoods which includes parties that supply the metallic hoods, Press and Shape the metallic hoods and finally an automotive manufacturer which assembles these hoods on to Car Chassis bodies, Bonnets and Doors etc…,