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Blockchain Technology Enabling Seamless Supply Chain

With rapid technological evolvement around the world, organisation is facing rapid change in the way the business is being conducted. This leads to disruption in the employment market thus leading to re-training and adaptability to technological changes. This development is more evident in the supply chain and logistics Industry that covers Transport, Warehousing and Distribution Network.

We look into the major areas for using Block Chain Technologies (BCT) at various nature of business.

The diagram below shows the fundamental Block Chain Structure and represents a broader approach on Peer-to-Peer transaction approach without a middle man. There are multiple benefits for the application of Block Chain Technology.

A look at blockchain technology
Diagram extracted from http://usblogs.pwc.com/emerging-technology/a-primer-on-blockchain-infographic

Simplified Contractual Provisions

The Block Chain Technology embed with simplified contractual provisions. These are called Smart Contracts. These contracts are designed to specific business model or specific to peer-to-peer transaction exchanges, as shown in the diagram below.

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Srinivasan Varadarajulu, ADPSM
Srinivasan Varadarajulu, ADPSM
Srinivasan Varadarajulu (S.Raju) has 30 years of experience in various sectors such as manufacturing of capital goods, building, and infrastructure, Oil and Gas sector. He has held managerial positions in India, Singapore, Indonesia, and Malaysia. He holds an Engineering degree from Bharathiar University (India) and is a qualified member of the Singapore Institute of Purchasing and Materials Management (SIPMM). He completed the Advanced Diploma in Procurement and Supply Management (ADPSM) course on July 2018 at SIPMM Institute.

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